Asked by Sharolyn Campbell on May 29, 2024
Verified
An individual in the US wants to buy a car from England which costs 12,000 pounds.If the exchange rate is 1 pound = $1.75,how much would the car cost him in dollars?
A) $21,000
B) $6,800
C) $12,000
D) Need more information
Exchange Rate
The value of one currency for the purpose of conversion to another currency.
- Ascertain the price of commodities in one currency using the exchange rate to convert their cost from another currency.
Verified Answer
IA
ifreelance academicJun 05, 2024
Final Answer :
A
Explanation :
To find out how much the car would cost in dollars, we need to multiply the cost of the car in pounds by the exchange rate:
12,000 pounds x $1.75/pound = $21,000
Therefore, the car would cost $21,000 in dollars.
12,000 pounds x $1.75/pound = $21,000
Therefore, the car would cost $21,000 in dollars.
Learning Objectives
- Ascertain the price of commodities in one currency using the exchange rate to convert their cost from another currency.
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