Math  /  Numbers & Operations

QuestionUse the currency exchange rates in the table for the following question.
Your dinner in Mexico City cost 2680 Mexican pesos. How much was it in U.S. dollars? \begin{tabular}{lll} \multicolumn{1}{c}{ Currency } & \begin{tabular}{c} Dollars per \\ Foreign \end{tabular} & \begin{tabular}{c} Foreign per \\ Dollar \end{tabular} \\ British pound & 1.356 & 0.7376 \\ Canadian dollar & 0.7828 & 1.277 \\ European euro & 1.225 & 0.8165 \\ Japanese yen & 0.009694 & 103.2 \\ Mexican peso & 0.05035 & 19.86 \end{tabular}
Your dinner cost \ \square$ in U.S. dollars. (Round to two decimal places as needed.)

Studdy Solution

STEP 1

1. The cost of dinner is given in Mexican pesos (MXN).
2. We need to convert this cost to U.S. dollars (USD) using the given exchange rate.
3. The exchange rate provided is 0.05035 dollars per Mexican peso.

STEP 2

1. Identify the given cost in Mexican pesos.
2. Identify the exchange rate for converting Mexican pesos to U.S. dollars.
3. Perform the currency conversion calculation.
4. Round the result to two decimal places.

STEP 3

Identify the given cost in Mexican pesos, which is:
Cost in Mexican pesos=2680 MXN \text{Cost in Mexican pesos} = 2680 \ \text{MXN}

STEP 4

Identify the exchange rate for converting Mexican pesos to U.S. dollars from the table:
Exchange rate (Dollars per Mexican peso)=0.05035 USD/MXN \text{Exchange rate (Dollars per Mexican peso)} = 0.05035 \ \text{USD/MXN}

STEP 5

Perform the currency conversion calculation using the formula:
Cost in USD=Cost in MXN×Exchange rate \text{Cost in USD} = \text{Cost in MXN} \times \text{Exchange rate}
Substitute the known values:
Cost in USD=2680 MXN×0.05035 USD/MXN \text{Cost in USD} = 2680 \ \text{MXN} \times 0.05035 \ \text{USD/MXN}

STEP 6

Calculate the result:
Cost in USD=2680×0.05035=134.938 USD \text{Cost in USD} = 2680 \times 0.05035 = 134.938 \ \text{USD}

STEP 7

Round the result to two decimal places:
Cost in USD134.94 USD \text{Cost in USD} \approx 134.94 \ \text{USD}
Therefore, your dinner cost \$134.94 in U.S. dollars.

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