Using an online exchange rate calculator, and Numi (a calculator that does it as if it's written by hand, for Mac OS X) for my calculations, it says:
1 GBP in USD = $1.32
1 USD in GBP = £0.76
Is this the correct calculation:
A car costs $54,600 USD but what would it cost in British Pounds if it were sold here?
54,600 USD * 0.76 GBP = £41,496
54,600 USD / 1.32 GBP = £41,363
The GBP is the denominator here, am I correct?
A car costs £54,600 GBP but if it was sold in the U.S. what would it cost, roughly:
£54,600 * 1.32 = $72,072 USD
The USD is the denominator here, am I correct?
Are my calculations correct, or am I wrong with the basic math of exchange rate about when to multiply or divide?
Multiply to find USD, divide to find GBP from USD?