1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ANTONII [103]
2 years ago
8

In 2010, $1.00 U.S. bought 8.24 Chinese yuan and in 2012 it bought 6.64 Chinese yuan. How many U.S. dollars could 1 Chinese yuan

purchase in 2010 and 2012?
a.2010: .12 U.S. dollars; 2012: .15 U.S. dollars
b.2010: 1.2 U.S. dollars; 2012: 1.5 U.S. dollars
c.2010: .82 U.S. dollars; 2012: .66 U.S. dollars
d.2010: .15 U.S. dollars; 2012: .11 U.S. dollars
Business
1 answer:
Lelechka [254]2 years ago
4 0

Answer:

A.2010: .12 U.S. dollars; 2012: .15 U.S. dollars

Explanation:

Given that

In 2010

$1 bought 8.24 yuan

In 2012

$1 bought 6.64 yuan

Therefore

In 2010

1 Chinese yuan will buy (1 dollar × 1 Chinese yuan) ÷ 8.24 chinese yuan

= 1 ÷ 8.24

= 0.12 dollars

Also,

In 2012

1 Chinese yuan will buy (1 dollar × 1 Chinese yuan) ÷ 6.64 chinese yuan

= 1 ÷ 6.64

= 0.15 dollars

Note, conversion rates shows how much of one currency can be used to buy 1 of another currency. In this case, the comparison is between Chinese yuan and US dollars. It showed how how much Chinese yuan could be used in purchasing US dollar and vice versa.

You might be interested in
Creative Images Co. offers its services to individuals desiring to improve their personal images. After the accounts have been a
Marysya12 [62]

Answer and Explanation:

The journal entries are shown below:

Fees Earned 694,400

         To Wages Expense 471,000

        To Rent Expense 69,500

        To Supplies Expense 11,100

        To Miscellaneous Expense 14,900

        To Violet Lozano, Capital 127,900

Violet Lozano, Capital 12,000

          To Violet Lozano, Drawing 12,000

 Now the post trail balance is

Cash                            12,700

Accounts Receivable 28,190

Supplies                     1,780

Equipment               125,600

Accumulated Depreciation             41,910

Accounts Payable                            15,240

Salaries Payable                                1,400

Unearned Rent                                   5,720

Sonya Flynn, Capital                        104,000

Totals                 168,270                 168,270

5 0
2 years ago
If a friend who’d never heard of amortization before asked you to explain how loan payments work, what would you say?
Ahat [919]

Answer:

Spreading a loan into a series of fixed payments.

Explanation:

When you ask how loan payments work, there's no better way to explain it that knowing that you will have to pay down a balance over a period of time. When you ask for a loan, you will have to spread it into a series of fixed payments (the total payment remains equal all the time) in which you will have to cover for the principal loan (the amount of money you requested) and the loan's interest (which is what the lender gets paid for the loan). This monthly payment even though it remains the same, covers for the following: the interest costs (which are at their highest at the beginning) and reducing the loan balance. As time goes on, a bigger portion of what you are paying goes toward the principal loan, and the interest you pay is proportionally less each month.

4 0
3 years ago
Terrance has to make home mortgage payments.What can you Most likely conclude about Terrence based on this fact?
pantera1 [17]

Answer:

D. He has a long term liability.

Explanation:

3 0
2 years ago
According to the video, what are some qualities Air Traffic Controllers need? Check all that apply.
sweet-ann [11.9K]

Answer:

It would be B,C,D on edge

have a great dauyyyy!!!

Explanation:

7 0
2 years ago
Read 2 more answers
A good rule of thumb is to limit consumer credit payments to ____________ percent of your net monthly income.
frutty [35]
<span>A good rule of thumb is to limit consumer credit payments to 20% percent of your net monthly income.</span>
6 0
3 years ago
Other questions:
  • Question 1 A firm sold goods for $50,000. $10,000 was paid in cash, and the remaining $40,000 was assigned to a customer’s credi
    13·1 answer
  • Caleb bought a car for $6,900. he agreed on a five- year loan at a 5.4% interest rate. calculate what caleb's monthly payments w
    7·1 answer
  • Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the f
    5·1 answer
  • Which of the following statements is true? Multiple Choice
    15·1 answer
  • I dont know how to eat fries how to eat fries
    8·2 answers
  • Which practice should you follow while interfacing with customers?
    12·2 answers
  • 4-21 (Algo) Reporting an Income Statement, Statement of Stockholders' Equity, and Balance Sheet LO4-2 Green Valley Company prepa
    11·1 answer
  • Describe the formation process of cross-border mergers, acquisitions, and international joint ventures. What are the major diffe
    11·1 answer
  • The Solow model demonstrates that A) in the absence of productivity growth, economic growth will turn negative in the long run.
    10·1 answer
  • Snappy Company has a job-order costing system and uses a predetermined overhead rate based on direct labor-hours to apply manufa
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!