A U.S. firm receives several blds for a piece of specialized testing equipment. A supplier from Japan quotes a price of 360,000 Yen. If the current exchange rate is 90 Yen per U.S. Dollar, what will the price be in U.S. dollars?
To determine the price in U.S. dollars for the specialized testing equipment quoted at 360,000 Yen with an exchange rate of 90 Yen per U.S. Dollar:
Understand the exchange rate: 1 USD = 90 Yen.
Convert the quoted price in Yen to USD: Price in USD=360,000 Yen90 Yen/USD\text{Price in USD} = \frac{360,000 \text{ Yen}}{90 \text{ Yen/USD}}Price in USD=90 Yen/USD360,000 Yen Price in USD=4,000 USD\text{Price in USD} = 4,000 \text{ USD}Price in USD=4,000 USD
Thus, the price in U.S. dollars is $4,000.
References:
Currency conversion principles.
Current exchange rates from financial news sources.
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