Question 1: An American family goes on vacation to see h to r beautiful city of Cambridge England. They have budgeted $7000 to spend. How many pound Sterling will $7000 buy in month 1 vs month 2 and based on that when should they go vacation. Show your math  Question 2: Japan Airlines is interested in purchasing new commercial aircraft from US at a price of $102 million per aircraft. What is the difference in the yen price between month 1 and month 2 based on this what month is Japan airlines more likely to buy. Show Math  Question 3: An Irish family is buying Chinese Silk in a local retail store in Shanghai. Which month is it cheaper to buy. Show your math

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 1: An American family goes on vacation to see h to r beautiful city of Cambridge England. They have budgeted $7000 to spend. How many pound Sterling will $7000 buy in month 1 vs month 2 and based on that when should they go vacation. Show your math 

Question 2: Japan Airlines is interested in purchasing new commercial aircraft from US at a price of $102 million per aircraft. What is the difference in the yen price between month 1 and month 2 based on this what month is Japan airlines more likely to buy. Show Math 

Question 3: An Irish family is buying Chinese Silk in a local retail store in Shanghai. Which month is it cheaper to buy. Show your math

 

US Dollar
British Pound
Chinese Yuan
Japanese Yen
Euro
US Dollar
British Pound
Chinese Yuan
Japanese Yen
Euro
US Dollar
$1 =
111
.76
6.37
113.04
.89
US Dollar
$1 =
.70
6.20
116.24
.92
Exchange Rate Table for Month 1
British Pound
Chinese Yuan
1 Y =
.16
.12
1 £ =
1.32
8.46
149.55
1.17
Exchange Rate Table for Month 2
British Pound
1 £=
1.40
17.75
.14
8.72
146.89
1.11
Chinese Yuan
1 Y =
.20
.11
16.32
.15
Japanese Yen
1 =
.0088
.0067
.056
.0078
Japanese Yen
1¥=
.0080
.0065
.062
.0078
Euro
1€
1.13
.85
7.21
127.55
Euro
1€
1.17
.89
7.59
117.2
Transcribed Image Text:US Dollar British Pound Chinese Yuan Japanese Yen Euro US Dollar British Pound Chinese Yuan Japanese Yen Euro US Dollar $1 = 111 .76 6.37 113.04 .89 US Dollar $1 = .70 6.20 116.24 .92 Exchange Rate Table for Month 1 British Pound Chinese Yuan 1 Y = .16 .12 1 £ = 1.32 8.46 149.55 1.17 Exchange Rate Table for Month 2 British Pound 1 £= 1.40 17.75 .14 8.72 146.89 1.11 Chinese Yuan 1 Y = .20 .11 16.32 .15 Japanese Yen 1 = .0088 .0067 .056 .0078 Japanese Yen 1¥= .0080 .0065 .062 .0078 Euro 1€ 1.13 .85 7.21 127.55 Euro 1€ 1.17 .89 7.59 117.2
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