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19 May, 23:04

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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  1. 20 May, 01:45
    0
    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
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