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On February 1, Synergy Import-Export Company sells merchandise to Japanese firms costing 90,000 yen. Payment will be made in Japanese yen on May 1. The
On February 1, Synergy Import-Export Company sells merchandise to Japanese firms costing 90,000 yen. Payment will be made in Japanese yen on May 1. The exchange rates of yen for $1 were as follows:
February 1 | $1 = 111.23 |
May 1 | $1 = 109.25 |
Calculate the dollar value of the amount paid in yen on May 1. (Note: Round answer to the nearest cent.)
a.$857.33
b.$823.80
c.$900.26
d.$500.34
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