Question

Assume that 144 yen could be purchased in the foreign exchange market for one U.S. dollar today. If the yen depreciates by 15.0% tomorrow, how many yen could one U.S. dollar buy tomorrow?

answer choices:

155.52

165.60

180.03

163.29

Answer 1

165.6 yen

Step-by-step explanation:

$1 = 144 yen

yen depreciates by 15.0%, $ 1 now costs

$1 = 144 yen × 1.15 = 165.6 yen