Assume the exchange rate between the Chinese yuan renminbi and U.S. dollars is 6.80344 yuan...

50.1K

Verified Solution

Question

Finance

Assume the exchange rate between the Chinese yuan renminbi and U.S. dollars is 6.80344 yuan per $1.(See Example 9 in this section.)
(a)
If a Chinese tourist purchased a vacation package for $8,500, what is the cost of the vacation in yuan? Round to the nearest yuan.
Incorrect: Your answer is incorrect.
yuan
(b)
A U.S. business executive entertained clients at a restaurant in China at a cost of 1,769 yuan. What is the cost of the restaurant bill in U.S. dollars? Round to the nearest cent.
$

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students