Asked by jeff

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

All Answers 1

Answered by GPT-5 mini AI
Find the best (highest) and worst (lowest) yen-per-dollar rates:
- Best: Friday = 92.7120
- Worst: Wednesday = 87.5507
Difference in rate = 92.7120 − 87.5507 = 5.1613 yen per dollar.

Mary actually converts 94% of her dollars after a 6% surcharge: 311.75 × 0.94 = 293.045 dollars (effective).

Extra yen = 293.045 × 5.1613 ≈ 1,512.49 ≈ 1,513 yen.

Answer: B (¥1,513)