Question

​You're traveling in Japan and are thinking about buying a new kimono.​ You've decided​ you'd be willing to pay​ $175 for a new​ kimono, but kimonos in Japan are all priced in yen. If the exchange rate is 89 yen per​ dollar, what is the highest price in yen​ you'd be willing to pay for a​ kimono? (Assume no taxes or duties are associated with the​ purchase.)

Answer 1

Answer: ¥15575

Explanation: if $1----¥89

$175- = 175*89 =15575

The explanation of the maths above is , since I am travelling to Japan and I am interested in buying a new kimono at a cost of $175 that means I don't want to spend more than $175 for a new kimono in Japan. Since the exchange rate for yen in Japan is ¥89 to $1, then converting my $175 which I have in budget to yen will be the multiplication of 175*89= 15575. I.e $175 that I am willing to pay for a new kimono is ¥15575 in Japanese yen.

Answer 2

Answer: 15,575 yen

Explanation:

Willingness to pay is the highest amount a consumer would be willing to pay for a good service.

If 1 dollar is exchanged for 89 yen, then 175 dollars would be exchanged for - 89 × 175 = 15,575 yen

I hope my answer helps you.