Asked by Shannon Michaud on Apr 25, 2024
Verified
The current exchange rates show that US$1.00 = C$1.0339. If you have $375 US dollars, what is the equivalent amount in Canadian dollars?
A) C$313.13
B) C$362.70
C) C$300
D) C$315.76
E) C$387.71
Exchange Rates
The price at which one currency can be exchanged for another.
Canadian Dollars
The currency of Canada, represented by the symbol CAD or C$.
US Dollars
The official currency of the United States, widely used in international transactions and considered a major reserve currency.
- Implement exchange rate equations to assess the value of commodities in various currencies.
Verified Answer
ES
Eugene Shchytou6 days ago
Final Answer :
E
Explanation :
To find the equivalent amount in Canadian dollars, multiply the amount in US dollars by the exchange rate: $375 * 1.0339 = C$387.71.
Learning Objectives
- Implement exchange rate equations to assess the value of commodities in various currencies.