In 1985, a given Japanese imported automobile sold for 1, 476, 000 yen, or $8, 200.If the car still sold for the same amount of yen today but the current exchange rate is 144 yen per dollar, what would the car be selling for today in U.S.dollars?

Question

Quizplus · Accepted Answer

Exchange rate in 1985 = 1, 476, 000/$8, 200 = 180 yen per dollar.Today's exchange rate = 144 yen per dollar; 144/180 = 0.80.Today's price = $8, 200/0.8 = $10, 250.Alternatively, 1, 476, 000/144 = $10, 250.

In 1985, a Given Japanese Imported Automobile Sold for 1