Please can you help me with this question? I think I have the right answer but I want to make sure.
The question asks: JPY 1,000 in Year 1 is worth how many US dollars in Year 1?
Assume
Value of 1 Euro (Euro) For Year 1 US Dollar = 1.60
JPY = 158Choices
- A) USD 12.83
- B) USD 10.13
- C) USD 14.05
- D) USD 12.83
- E) USD 6.33
The way I have done it is...
$1.60 / 158 = 0.010126582$
$0.010126582 \times 1000 = 10.12658228 = \mathrm{USD} 10.13 \text{ (Answer is B)}$
Is this the correct? Thanks in advance for your valuable help.