a) In October 2022, Mr. Smith travels to Japan and exchanges $300 at the rate of...
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a) In October 2022, Mr. Smith travels to Japan and exchanges $300 at the rate of 110/USD1. i. In November 2022, the exchange rate of USD/JPY depreciated to 105. Explain what happened to the currency. (3 Marks) ii. In November 2022, if the cost of a sushi dinner is 5000 and Mr. Smith would like to dine out for 2 nights, calculate how much he has to pay in USD. (4 Marks) a) In October 2022, Mr. Smith travels to Japan and exchanges $300 at the rate of 110/USD1. i. In November 2022, the exchange rate of USD/JPY depreciated to 105. Explain what happened to the currency. (3 Marks) ii. In November 2022, if the cost of a sushi dinner is 5000 and Mr. Smith would like to dine out for 2 nights, calculate how much he has to pay in USD. (4 Marks)
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