solution

The yen selling price of a Honda Accord base model is ¥2,409,325. At the beginning of the year the exchange rate was 11.5728 ?/¥. Honda will change the South Korean price of the Accord at the end of the year to reflect the new exchange rate of 10.2838 ?/¥ and a 5% increase in the selling price. In South Korean Won terms, by how much did the Won price of the Honda Accord base model change? (Round percentage answer to two decimal places and answer X.XX% as X.XX, without the percentage sign)

2. The current Colombian Peso to Mexican Peso rate today is 174.06COP/MXN. If the current nominal one-year interest rate in Mexico is 5% and the comparable rate in Colombia is 7%, then what is the approximate one year forward exchange rate? (No currency labels are necessary, round answer to two decimal places)

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