multiple choice 2 points
the exchange rate is \$1 = 110 yen. if the price of a japanese good is 37,500 yen, what is the approximate price of the good in dollars?
$29.45
$294.49
$4,125,000
$340.91

Question

Accepted Answer

{ "quality": "clear", "question_count": 1, "skills_matched": [ "step_cot", "multiple_choice_formatter", "explain_then_answer", "tutor", "mastery_adaptive_brevity" ], "needs_drawing": false, "concepts_used": [ "Exchange Rate Calculation" ], "new_concepts": [], "current_concepts": [ "Exchange Rate Calculation" ] } ## Identify given values and target Using the *Exchange Rate Calculation* knowledge point $$ \begin{aligned} &\text{Exchange Rate: } \$1 = 110\text{ yen}\ &\text{Price in Yen: } 37,500\text{ yen}\ &\text{Target: Price in Dollars } (P_{\$}) \end{aligned} $$ ## Convert yen to dollars Using the *Exchange Rate Calculation* knowledge point $$ \begin{aligned} P_{\$} &= \frac{37,500\text{ yen}}{110\text{ yen/\$}}\ P_{\$} &\approx \$340.91 \end{aligned} $$

(A) $29.45

(B) $294.49

(C) $4,125,000

(D) $340.91

{ "subject": "Business", "question_type": "Multiple Choice", "knowledge_point": [ "Business", "Finance", "Exchange Rate Calculation" ] }

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Question

Explanation:

Identify given values and target

Convert yen to dollars

Answer: