Currency (1).docx - Foster Shelby C02787364 X BUS100-97022,97094,97395 Currency Exchange Assignment#1 Currency Exchange Assignment#1

Foster, Shelby C02787364 X BUS100-97022,97094,97395 Currency Exchange Assignment #1 1 | P a g e Currency Exchange Assignment#1 XBUS10097022,97094,97395 Shelby Foster C02787364 Due Date:26APR19

Foster, Shelby C02787364 X BUS100-97022,97094,97395 Currency Exchange Assignment #1 I have decided to pick Yen as my currency denomination. I am currently stationed in Sasebo, Japan. I have been living here for almost two years so I have a little experience with the currency exchange. Yen in perspective In Japan, they use coins more frequently than we do in the United States. When we use coins, we typically think of using them for small change. Quarters, dimes, nickels and pennies are all not worth very much so we could not care less if we lost them. Here in Japan, the case is different. They have a five hundred Yen coin which is about the same as five dollars, so you have to be more cautious or you would end up losing a lot of money. They also have a one hundred yen coin that is close to equaling a dollar. They also have coins that would be considered small change like a one Yen, five Yen, ten Yen and fifty Yen. When you have to convert American money to the Japanese Yen, you multiply the amount of Yen you have by how much a dollar is worth. So for example, if you have five hundred yen and you multiplied it by 111.96 which would be how much a dollar is worth compared to one yen, you would have $4.47. Food When you compare Japan and the United States with their cost of living, it turns out that it is actually cheaper to live in Japan. The average household makes 5,372,000 yen a year and in America the average is around 2 | P a g e

Foster, Shelby C02787364 X BUS100-97022,97094,97395 Currency Exchange Assignment #1 $56,516. Even though in America your annual income is a little higher than Japans, Japan is cheaper as far as rent and food. There are tons of cheap fast food like restaurants like ramen or noodle shops where you can eat a full meal for five hundred to one thousand yen. The food is a way healthier alternative to what we eat in America. Fast food in America is commonly known as McDonalds or Taco Bell. Having a full meal at one of these fast food restaurants will easily come out to be ten dollars or more. Groceries in Japan are also cheaper than what you would buy in America. For example a loaf of