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fiasKO [112]
3 years ago
13

The Ruiz family is exchanging euros for US dollars. The exchange rate is 1 euro equals 1.35261 USD. Since the Ruiz family knows

that USD are stated to the nearest hundredth of a dollar, they used the conversion ratio. Determine if this will give the Ruiz family the correct exchange.
Mathematics
2 answers:
slamgirl [31]3 years ago
8 0

The <em>correct answer</em> is:


No, the family will not be able to correctly convert their euros to U.S. dollars using the rate 1 euro = 1.35 USD.


Expanation:


Suppose the family has 250 euros. Using the actual exchange rate, we find they have

250(1.35261) = 338.1525 ≈ $338.15


If we use the rate 1 euro = 1.35 USD, we would have

250(1.35) = $337.50.


They would be short $0.65. While this does not seem like a large discrepancy, the more money they convert with this rate, the more incorrect they will be.

Andru [333]3 years ago
4 0
1 euro = 1.35261 USD

The Ruiz family will be able to exchange their euros for US dollar using the rate of $1.35 per 1 euro.


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