If the exchange rate is 1 USD = 0.85 EUR, what is the net amount of euros received after converting 200 USD with a 3% transaction fee? Select the correct amount.

Convert the dollars first: 200 × 0.85 = 170 euros before the fee. The 3% transaction fee is 0.03 × 170 = 5.10 euros, so the net amount is 170 − 5.10 = 164.90 euros. The correct choice is 164.90 EUR.

AI-written and checked against the verified answer.