Answer:
a. The exchange rate from Singapore dollars to Australian dollars is (SGD = 1.00 AUD) 1.0278.
b. Anne will receive 1,070.25 Australian dollars.
Explanation:
a. What is the exchange rate from Singapore dollar to Australian dollar?
Given:
Spot rate (SGD = 1.00 USD) 1.3443
Spot rate (USD = 1.00 AUD) 0.7646
This leads to:
1.3443 SGD = 1.00 USD..................... (1)
0.7646 USD = 1.00 AUD................... (2)
From equation (2), dividing by 0.7646 yields:
0.7646 / 0.7646 USD = 1.00 / 0.7646 AUD
1.00 USD = 1.3079 AUD
Inserting this back into equation (1) gives:
1.3443 SGD = 1.00 USD = 1.3079 AUD
Removing 1.00 USD results in:
1.3443 SGD = 1.3079 AUD
By dividing by 1.3079, we calculate:
1.3443 / 1.3079 SGD = 1.3079 / 1.3079 AUD
Thus, we find that 1.0278 SGD equals 1.00 AUD.
Thus, the exchange rate from Singapore dollar to Australian dollar is (SGD = 1.00 AUD) 1.0278.
b. How many Australian dollars will Anne obtain in exchange for her Singapore dollars?
This can be computed as follows:
Anne's Australian dollars = Amount in Singapore dollars / Singapore dollar to Australian dollar exchange rate = 1,100 / 1.0278 = 1,070.24712979179 Australian dollars
<p.Rounding to two decimal points, we conclude:
So, the amount Anne will obtain is 1,070.25 Australian dollars.
