Question

Suppose a bank customer with Euro 1,000 wishes to trade out of euro and into Japanese yen. The dollar-euro exchange rate is quoted as $1.60 = Euro1.00 and the dollar-yen exchange rate is quoted at $1.00 = ¥120. How many yen will the customer get?

Answer 1

192,000,000 yen

Step-by-step explanation:

we can perform currency conversion on €1,000,000 to get dollars equivalent.

From the question, we were given The dollar-euro exchange rate as $1.60 = €1.00.

Then (1,000,000× $1.60) =$1,6 00,000

✓ we can now convert the $1,6 00,000 to Yen., From the question ,the dollar-yen exchange rate is quoted at $1.00 = ¥120. Then

(¥120× $1,6 00,000)= 192,000,000 yen

Therefore, the amount of money the customer get in "yen" is 192,000,000 yen