(Solved): The exchange rate is the price of one currency in terms of another currency. An exchange rate speci ...

The exchange rate is the price of one currency in terms of another currency. An exchange rate specifies how many units of one country's currency equal one unit of another country's currency. Suppose the following table forecasts exchange rate data for March 16, 2023, in terms of Canadian dollars per unit of foreign currency. Use the information in the table to answer the questions that follow. \begin{tabular}{lc} \hline Foreign Currency & Canadian Dollars (CDN\$) per Unit of Foreign Currency \\ \hline Brazilian real (R\$) & 0.5482 \\ U.S. dollar (US\$) & 1.1529 \\ Euro (€) & 1.4019 \\ Japanese yen (¥) & 0.009848 \\ \hline Mexican peso (MEX\$) & 0.1086 \\ \hline UK pound (£) & 2.0248 \\ \hline \end{tabular} Suppose that on March 16,2023 , a children's doll handmade in Japan is priced at \( ¥ 1,000 \). The approximate Canadian dollar price of the doll would be If the exchange rate for the Canadian dollar-euro rises from the rate given by the table to CDN \( \$ 1.452 \) per euro, the value of the Canadian dollar \( \square \) relative to the euro.