Question

Currency on hand =5,000 Mexican pesos currency desired = United States dollars. How many United States dollars based on Wednesday quotation?

Answer 1

Answer:

United States dollars = $200

Step-by-step explanation:

given data

Currency on hand = 5,000

solution

We will convert the 5,000 pesos into US dollars

we consider here exchange rate that is

current Mexican Peso to US Dollar  = 0.040

so United States dollars will be by 5,000 pesos

United States dollars = 5,000 pesos  × exchange rate  ..............1

United States dollars = 5,000 pesos × 0.040

United States dollars = $200