Asked by Jessica Romero on Apr 26, 2024
Verified
An American purchased a pair of shoes in Sydney, Australia. The price was 120 Australian dollars plus 6% tax. How much did he have to pay in American dollars when the exchange rate for Australian dollars was 0.903497 per U.S. dollar?
Australian Dollars
The currency of Australia, represented by the symbol AUD and used throughout the country.
Tax
Tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization to fund government spending and various public expenditures.
- Become proficient in the method of transforming currencies.
- Apply conversion rates to ascertain the equivalent value in a different monetary unit.
- Compute the expenses associated with international transactions, factoring in taxes and shipping costs when relevant.
Verified Answer
AG
Learning Objectives
- Become proficient in the method of transforming currencies.
- Apply conversion rates to ascertain the equivalent value in a different monetary unit.
- Compute the expenses associated with international transactions, factoring in taxes and shipping costs when relevant.