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AnnZ [28]
3 years ago
5

Horace is seeking to exchange money in preparation for his trip to Uruguay. He will need 5,000 Uruguayan pesos, and the exchange

rate between the US dollar and the Uruguayan peso is 1:19.924. The currency exchange agent Horace is using requires that a 5% surcharge be paid when converting currency. Taking the surcharge into account, how many US dollars will it take Horace to get 5,000 pesos? Round to the nearest cent.
a. $237.45
b. $249.05
c. $250.95
d. $263.50
Please select the best answer from the choices provided A B C D
Business
1 answer:
STatiana [176]3 years ago
7 0

Answer:

d. $ 263.50

Explanation:

The Exchange  rate is 1 dollar = 19.924 Uruguayan Peso.

We need to buy 5000 Uruguayan pesos but the agent requires a comision of  a 5%  when converting currency, so really we will need to buy:

5,000 Uruguayan pesos + 5,000 Uruguayan pesos* 0.05 = 5,250 Uruguayan pesos.

Now if we apply the given exchange rate we will obtain the amount of US Dollars we need:

x U$S = (5,250 Ur.$)/(19,924 Ur.$/U$S)= 263,50 U$S needed

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For a defendant to successfully prove he or she acted under duress, the following must be satisfied:

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A company enforces its ethical codes and policies by rewarding ethical behavior and punishing misconduct. Each month, the most e
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3 years ago
Pete's Putters sells each putter for $125. The variable cost is $60 per putter and fixed costs total $400,000. Based on this inf
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Based on this information $380,000

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8 0
2 years ago
Hector would like to buy a new pair of soccer cleats. Hector prefers Adidas to Puma brand soccer cleats. But Hector chooses to b
oksano4ka [1.4K]

Answer: Option (A) is correct.

Explanation:

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3 0
3 years ago
Knelling Company reported a balance in Accounts Receivable of $50,000 and a credit balance of $3,000 in the Allowance for Doubtf
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Answer:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

Explanation:

According to the scenario, the journal entry are given below:

Journal Entry:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

(Being the Bad debt A/c is recorded)

The computation for bad debts are given below:

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Where,

Uncollectible Amount = $12,000

Credit balance in Allowance for doubtful A/c = $3,000

By putting the value we get,

= $12,000 - $3,000

= $9,000

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