Question

You just returned from some extensive traveling throughout the Americas. You started your trip with $20,000 in your pocket. You spent 3.1 million pesos while in Chile and 548,200 pesos in Colombia. Then on the way home, you spent 47,500 pesos in Mexico. Assume the exchanges rates you encountered were $1 = Ps562 in Chile; $1 = Ps1,928 in Colombia; and $.0767 = Ps1 in Mexico. How many dollars did you have left by the time you returned to the U.S.?

Answer 1

Answer:

$10,556.40

Explanation:

The computation is shown below:

= Pocket money - Chile expenses - Colombia expenses - Mexico expenses

where,

Pocket money = $20,000

Chile expense = 3,100,000 × $1 ÷ 562 =  $5,516.01

Colombia expense = 548,200 × $1 ÷ 1,928 =  $284.34

Mexico expense = 47,500 × $0.767 ÷ 1 = $3,643.25

Now put these values to the above formula

So, the value would be equal to

= $20,000 - $5,516.01 - $284.34 - $3,643.25

= $10,556.40