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The exchange rate between non-fixed currencies continually fluctuates. The chart below shows the exchange rate of the US dollar to the Japanese yen over the course of six days. Day $:¥ Monday 1:88.6122 Tuesday 1:90.8305 Wednesday 1:87.5507 Thursday 1:91.2323 Friday 1:92.7120 Saturday 1:89.4477 Mary has $311.75 to convert into yen. The currency exchange she is using charges a surcharge of 6% when converting currency. About how many more yen will Mary receive if she makes her trade on the day with the most favorable exchange rate than if she makes her trade on the day with the least favorable exchange rate? a. ¥1,125 b. ¥1,513 c. ¥1,609 d. ¥1,706 Please select the best answer from the choices provided A B C D

Respuesta :

lucariel92

Answer:

1513

Explanation:

To get this answer you should do:

USD * Exchange Rate * (1 - surcharge)

in this case:

a) 311.75 * 92.7120 * 0.94  => Most favorable exchange rate

b) 311.75 * 87.5507 * 0.94  => Least favorable exchange rate

a)-b) = 1513

ogorwyne

The amount of money that Mary is going to receive if she makes her trade on a day that has the least favorable exchange is ¥1,513

How to solve for the rate of money

To solve for this we have to use the formula:

USD x exchangex (1 - surcharge)

How to solve for the most favorable exchange

311.75 x 92.7120 x 0.94

= 27168.789

How to solve for the least favorable exchange

311.75 x 87.5507 x 0.94  

= 25,656.294

The rate = 27168.789 -  25,656.294

= 1513

Read more on exchange rate here: https://brainly.com/question/2202418

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