A UK-based business imports materials from Europe. The company exchanges £7,000 into Euros (€) when the exchange rate is €1.16 to £1. They spend €4,200 on a shipment of goods, and later convert the remaining Euros back into pounds. By this time, the exchange rate has changed to €1.12 to £1.
How many pounds are they left with?
£3,250.00
£3,379.31
£3,500.00
£4,390.40
