1
QuizMultiple Choice

Converting Currency

Question 1 • FowU - Financial Math - B

Jessica is planning a trip to South Africa. The following table shows some of her planned expenses for this trip, and whether these expenses are in US dollars ($) or South African rands (R).ItemCostCurrencyGuide book216.41RWalking shoes702.33RPassport71.75$Car rental996.78RPlane ticket3,741.85RHotel reservation138.10$If the exchange rate of US dollars to South African rands is 1:7.4094, what is the current total of Jessica’s budget, in US dollars? Round all currencies to two decimal places.

Answer
A
$763.54
B
$791.86
C
$973.39
D
$1,001.71

Explanation

Add the expenses in rands: R216.41 + R702.33 + R996.78 + R3,741.85 = R5,657.37. Convert to US dollars by dividing by 7.4094, giving about $763.54. Add the dollar expenses, $71.75 + $138.10 = $209.85, for a total budget of $973.39, choice C.

AI-written and checked against the verified answer.

Next