Answers 26-27 Ignite Technical Math-Financial Math - MA2007 Topic TestQuestion 33

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Question 33 • 26-27 Ignite Technical Math-Financial Math - MA2007

The exchange rate between non-fixed currencies continuously fluctuates. The table below shows the exchange rate of the US dollar to the euro over the course of six days.Day$:€Monday1:0.7102Tuesday1:0.7053Wednesday1:0.6869Thursday1:0.6910Friday1:0.7273Saturday1:0.7544If Rodney traded €228.75 for $314.52, when did he make his exchange?

Answer

A

Saturday

B

Friday

C

Thursday

D

Tuesday

Explanation

Divide the euros Rodney gave by the dollars he received: €228.75 ÷ $314.52 ≈ 0.7273 euros per dollar. The table shows that exchange rate on Friday, so he made the exchange on Friday.

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