In the United States, we can buy a pair of shoes for $36. These shoes are identical in all aspects to a pair of shoes from Japan that be purchased for ¥6,000 including shipping costs
What dollar amount can we save by buying the shoes in the United States if the exchange rate is $1 for ¥150?
A) $5.00
B) $4.00
C) $3.00
D) $2.00
Answer: B
Explanation: B) Cost of Japanese Shoes = = $40.00. Thus, we can save $40 - $36 = $4.00 by buying in the United States.
Business
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