Question

The cost of the five most popular items at an airport gift shop include a $12.99 decorative mug, a $2.99 postcard, a $3.49 keychain, a $15.29 t-shirt, and a $7.89 teddy bear. Everleigh is interested in seeing the cost of the items in another currency. The most current currency conversion rates for 1 U.S. dollar are the following:
Country Name of Currency Exchange Rate
China Yuan 6.4651
Denmark Krone 6.3394
Sweden Krona 8.6964

Choose one airport gift shop souvenir and one country. Convert the cost of the chosen souvenir into the currency of that country. Show all necessary mathematical calculations.

Answer 1

Exchange rate refers value of a currency in another.The cost of the decorative mug is 83.98 China Yuan.

What is the exchange  rate?

The term exchange rate has to do with the value of a currency in another currency. Given the fact that international trade is the mainstay of the global economy, it is important that one currency should be converted to another for the purpose of the ease of doing business.

The dollar is often the international currency for trade. Its us always necessary to convert the dollar into the local currency of the country where the business is done using the correct exchange rate.

Now If I want to convert the cost of the decorative mug to China Yuan;

I already know that;

1 US dollar =  6.4651 China Yuan

12.99 US dollar = 12.99 US dollar  * 6.4651 China Yuan/1 US dollar

= 83.98 China Yuan

Hence, the cost of the decorative mug is 83.98 China Yuan.

Learn more about exchange rate:brainly.com/question/22996931

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