TIPS FOR READING AN EXCHANGE RATE CHART: Read down the chart. For example, in column 1 it says the US Dollar is equal to each of the currencies below it. Therefore $1 = .76 £ or $1 = .89 €. Exchange Rate Table for Month 1 US Dollar $1 = British Pound 1 £ = Chinese Yuan 1 Y = Japanese Yen 1 ¥ = Euro 1€ US Dollar --- 1.32 .16 .0088 1.13 British Pound .76 --- .12 .0067 .85 Chinese Yuan 6.37 8.46 --- .056 7.21 Japanese Yen 113.04 149.55 17.75 --- 127.55 Euro .89 1.17 .14 .0078 --- Exchange Rate Table for Month 2 US Dollar $1 = British Pound 1 £ = Chinese Yuan 1 Y = Japanese Yen 1 ¥ = Euro 1€ US Dollar --- 1.40 .20 .0080 1.17 British Pound .70 --- .11 .0065 .89 Chinese Yuan 6.20 8.72 --- .062 7.59 Japanese Yen 116.24 146.89 16.32 --- 117.2 Euro .92 1.11 .15 .0078 --- An American family goes on vacation to see the beautiful city of Cambridge in England. They have budgeted $7000 to spend while they are there. How many Pound Sterling will $7000 buy in month 1? Month 2? When should the family go on vacation? Explain your answer using the numbers from the chart above (show your math).
TIPS FOR READING AN EXCHANGE RATE CHART: Read down the chart. For example, in column 1 it says the US Dollar is equal to each of the currencies below it. Therefore $1 = .76 £ or $1 = .89 €.
|
Exchange Rate Table for Month 1 |
|||||
|
|
US Dollar $1 = |
British Pound 1 £ = |
Chinese Yuan 1 Y = |
Japanese Yen 1 ¥ = |
Euro 1€ |
|
US Dollar |
--- |
1.32 |
.16 |
.0088 |
1.13 |
|
British Pound |
.76 |
--- |
.12 |
.0067 |
.85 |
|
Chinese Yuan |
6.37 |
8.46 |
--- |
.056 |
7.21 |
|
Japanese Yen |
113.04 |
149.55 |
17.75 |
--- |
127.55 |
|
Euro |
.89 |
1.17 |
.14 |
.0078 |
--- |
|
Exchange Rate Table for Month 2 |
|||||
|
|
US Dollar $1 = |
British Pound 1 £ = |
Chinese Yuan 1 Y = |
Japanese Yen 1 ¥ = |
Euro 1€ |
|
US Dollar |
--- |
1.40 |
.20 |
.0080 |
1.17 |
|
British Pound |
.70 |
--- |
.11 |
.0065 |
.89 |
|
Chinese Yuan |
6.20 |
8.72 |
--- |
.062 |
7.59 |
|
Japanese Yen |
116.24 |
146.89 |
16.32 |
--- |
117.2 |
|
Euro |
.92 |
1.11 |
.15 |
.0078 |
--- |
An American family goes on vacation to see the beautiful city of Cambridge in England. They have budgeted $7000 to spend while they are there. How many Pound Sterling will $7000 buy in month 1? Month 2? When should the family go on vacation? Explain your answer using the numbers from the chart above (show your math).
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