Final answer:
Shari invested $1.5 million in Fish n Chips, a UK company, buying 42,857 shares at $35 per share. The conversion rate for pounds to dollars was $1.50.
Step-by-step explanation:
Shari, a citizen of the USA, invested $1.5 million in Fish n Chips, a UK company, trading at a market value of $35 per share. The conversion rate for pounds to dollars was $1.50. To calculate the number of shares Shari bought, divide the investment amount by the share price: $1,500,000 / $35 = 42,857.14 shares.
To find the conversion rate for pounds to dollars, we need to know the number of shares Shari bought. Let's assume she bought 42,857 shares. Multiply the number of shares by the share price to get the total investment in dollars: 42,857 * $35 = $1,500,000.
To find the conversion rate for pounds to dollars, divide the total investment in dollars by the investment amount in pounds: $1,500,000 / £1,000,000 = $1.50/£1.00.