Attempting to determine euro and pound exchange rate

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Reference no: EM131860487

1. Ron, age 42, works for a company that has a nondiscriminatory group-term life insurance plan for its employees. Under the plan, Ron receives $80,000 of insurance coverage. Ron's share of the group-term life insurance cost for the current year was $27.27. The Uniform Premium Table specifies that the cost for $1,000 of group-term life insurance for one month for a person age 40-44 is $0.10. For this group-term life insurance, Ron's gross income should include: $8.73 $36.00 $61.20 $68.73 $96.00

2. A German firm is attempting to determine the euro/pound exchange rate and has the following exchange rate information: USD/pound = $1.5509/£ and the USD/euro rate = $1.2300/€. Therefore, the euro/pound rate must be approximately:

A) £1.2719/€. B) €1.2719/£. C) €0.7316/£. D) €1.2609/£. E) None of the Above

Reference no: EM131860487

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