Question
Exchange Rate Table for Month 1 US Dollar $1 = British Pound 1 = Chinese Yuan 1 Y = Japanese Yen 1 = Euro 1
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 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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