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. monday: 1:88.6122tuesday: 1:90.8305wednesday: 1:87.5507thursday: 1:91.2323friday: 1:92.7120saturday: 1:89.4477mary 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. ¥1,125b. ¥1,513c. ¥1,609d. ¥1,706

Question

Mathematics

Tess Moyer

2 March, 07:08

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. monday: 1:88.6122tuesday: 1:90.8305wednesday: 1:87.5507thursday: 1:91.2323friday: 1:92.7120saturday: 1:89.4477mary 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. ¥1,125b. ¥1,513c. ¥1,609d. ¥1,706

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Answers (1)

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Ashton Humphrey · Answer 1

Given:

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's money is $311.75.

The highest exchange rate is on Friday which is $1:¥92.7120

The lowest exchange rate is on Wednesday which is $1:¥87.5507

¥92.7120 - ¥87.5507 = ¥5.1613

$311.75 * ¥5.1613/$1 = ¥1,609.03 more