Answered

Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Join our platform to connect with experts ready to provide accurate answers to your questions in various fields. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

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

Sagot :

ashishdwivedilVT

Mary will receive 1512.4931 more Yen if she makes her trade on the day with the most favorable exchange rate than that of the least favorable exchange rate.

What is the exchange rate?

It is the factor by which currency conversion of two countries is done.

The most Favorable day is Friday because the exchange rate on Friday is the highest.

So, Mary will receive on Friday= 311.75 x 92.7120 x 94/100

Mary will receive on Friday(a)=27168.788 Yen

The least Favorable day is Wednesday because the exchange rate on Wednesday is the least.

So, Mary will receive on Wednesday= 311.75 x 87.5507 x 94/100

So, Mary will receive on Wednesday(b)= 25,656.2949 Yen

Difference between (a) and (b) = 1512.4931 Yen

Hence, Mary will receive 1512.4931 more Yen 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.

To get more about the exchange rate visit:

https://brainly.com/question/1366402

Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.