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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 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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