foreign currencies and exchange rates practice\nratio method:\n1 canadian dollar = 0.57 british pounds\n$100…

foreign currencies and exchange rates practice\nratio method:\n1 canadian dollar = 0.57 british pounds\n$100 canadian dollars = x\nmultiply both sides by 100.\n= 0.57 x 100\n= £57 british pounds\ncross - multiplication method:\n1 canadian dollar / 0.57 british pounds = $100 canadian dollars / x\n(1)(x) = ($100)(0.57)\nx = £57\n1. amanda wants to travel from halifax, canada to boston, usa. she has $1,000 canadian dollars (cad) that she will convert into us dollars (usd). todays exchange rate is 1 cad = 0.80 usd. how much usd will amanda have for her trip?\n2. john has $200 cad and he wants to convert his money into mexican peso (mxn). today, the exchange rate is 1 cad = 15.75 mxn. how much money in mexican peso will john have?

foreign currencies and exchange rates practice\nratio method:\n1 canadian dollar = 0.57 british pounds\n$100 canadian dollars = x\nmultiply both sides by 100.\n= 0.57 x 100\n= £57 british pounds\ncross - multiplication method:\n1 canadian dollar / 0.57 british pounds = $100 canadian dollars / x\n(1)(x) = ($100)(0.57)\nx = £57\n1. amanda wants to travel from halifax, canada to boston, usa. she has $1,000 canadian dollars (cad) that she will convert into us dollars (usd). todays exchange rate is 1 cad = 0.80 usd. how much usd will amanda have for her trip?\n2. john has $200 cad and he wants to convert his money into mexican peso (mxn). today, the exchange rate is 1 cad = 15.75 mxn. how much money in mexican peso will john have?

Answer

Explanation:

Step1: Set up conversion formula

For Amanda's case, we know the exchange - rate relationship. Let $x$ be the amount of USD. The formula is $x=\text{Amount of CAD}\times\text{Exchange rate}$.

Step2: Calculate Amanda's USD amount

Given Amanda has 1000 CAD and the exchange rate is 0.80 USD per CAD. So $x = 1000\times0.80=800$ USD.

Step3: Set up conversion formula for John

Let $y$ be the amount of MXN. The formula is $y=\text{Amount of CAD}\times\text{Exchange rate}$.

Step4: Calculate John's MXN amount

Given John has 200 CAD and the exchange rate is 15.75 MXN per CAD. So $y = 200\times15.75 = 3150$ MXN.

Answer:

  1. Amanda will have 800 USD.
  2. John will have 3150 MXN.