a family uses 12,986.64 swiss francs per year to pay a mortgage that requires us dollars. approximately how…

a family uses 12,986.64 swiss francs per year to pay a mortgage that requires us dollars. approximately how much, in us dollars, does the family spend per month on the mortgage?\n1 us dollar = 0.9019 swiss francs\n1 swiss franc = 1.11 us dollar\n$975\n$1,080\n$1,200\n$1,440

a family uses 12,986.64 swiss francs per year to pay a mortgage that requires us dollars. approximately how much, in us dollars, does the family spend per month on the mortgage?\n1 us dollar = 0.9019 swiss francs\n1 swiss franc = 1.11 us dollar\n$975\n$1,080\n$1,200\n$1,440

Answer

Explanation:

Step1: Convert annual Swiss - franc amount to US dollars

We know that 1 Swiss franc = 1.11 US dollars. The family spends 12986.64 Swiss francs per year. So the annual amount in US dollars is $12986.64\times1.11$. $12986.64\times1.11 = 12986.64\times(1 + 0.11)=12986.64+12986.64\times0.11=12986.64 + 1428.5304=14415.1704$ US dollars.

Step2: Calculate the monthly amount in US dollars

To find the monthly amount, we divide the annual amount by 12. $\frac{14415.1704}{12}=1201.2642\approx1200$ US dollars.

Answer:

$1,200$