Mary has $311.75 to convert into yen. The currency exchange she is using charges a surcharge of 6% when converting currency. About how many more yen will Mary receive if she makes her trade on the day with the most favorable exchange rate than if she makes her trade on the day with the least favorable exchange rate?

¥1,512.49

Step-by-step explanation:

Here is the complete question:

The exchange rate between non-fixed currencies continually fluctuates. The chart below shows the exchange rate of the US dollar to the Japanese yen over the course of six days.

Day

$:¥

Monday

1:88.6122

Tuesday

1:90.8305

Wednesday

1:87.5507

Thursday

1:91.2323

Friday

1:92.7120

Saturday

1:89.4477

Mary has $311.75 to convert into yen. The currency exchange she is using charges a surcharge of 6% when converting currency. About how many more yen will Mary receive if she makes her trade on the day with the most favorable exchange rate than if she makes her trade on the day with the least favorable exchange rate?

Solution:

Of all the days of the week, the most favorable exchange rate day is Friday where the exchange rate is ¥92.7120 and the lease favorable exchange rate day is on Wednesday where the exchange rate is ¥87.5507.

If Mary converted the currency, she will receive only 94% of her money excluding 6% surcharge.

Favorable day(Friday)= ($311.75) x (92.7120/1) x 0.94

=¥27,168.788

Least Favorable day(Wednesday) =($311.75) x (87.5507) x 0.94

=¥25,656.294

The difference between most favorable day and least favourable day = ¥27,168.788 - ¥25,656.294

= ¥1,512.49

square root

step-by-step explanation: