Suppose that the exchange rate between the Japanese yen and the Australia dollar is currently ¥60 = $1, then an individual could trade:
A)¥10 for $0.60.
B)¥10 for $6.00.
C)¥10 for $0.17.
D)¥10 for $0.01.

Question

Quizplus · Accepted Answer

To find out how much ¥10 is worth in Australian dollars, divide ¥10 by the exchange rate of ¥60 per $1. This gives ¥10 / ¥60 = $0.1666, which rounds to $0.17.

Suppose That the Exchange Rate Between the Japanese Yen and the Australia