Khalid invests $500 in an account that earns 1.5% interest per year, compounded annually. Which of the following is
2 answers:
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Answer:
<u>Leila pays more</u> than Andy to fly from the UK to Australia.
Step-by-step explanation:
Given:
Andy flies from the UK to Japan.
His plane ticket costs £554.
Andy then flies from Japan to Australia.
His plane ticket costs 70 140 Japanese Yen.
The exchange rate is £1 = 140 Japanese Yen.
Leila flies from the UK to Australia.
Her plane ticket costs 1860 Australian dollars.
The exchange rate is 1 Australian dollar = £0.62.
<u>Now, to find Andy or Leila who pays more to fly from the UK to Australia.</u>
Andy flies from the UK to Japan.
His plane ticket costs = £554.
Andy then flies from Japan to Australia.
His plane ticket costs 70 140 Japanese Yen.
The exchange rate is £1 = 140 Japanese Yen.
So, by using conversion factor we convert Japanese Yen to £.
140 = £1
70140 =
His plane ticket costs = £501.
Now, adding both the cost of tickets:
Andy total pays fly from the UK to Australia is £1055.
Now, to get the cost of plane ticket of Leila from the UK to Australia.
Her plane ticket costs 1860 Australian dollars.
The exchange rate is 1 Australian dollar = £0.62.
So, by using conversion factor:
1 Australian dollar = £0.62
1860 Australian dollar =
Her plane ticket costs is £1153.2.
<u><em>As, we see that cost of plane ticket of Andy is £1055 and cost of plane ticket of Leila is £1153.2.</em></u>
<em>Thus, Leila pays more.</em>
Therefore, Leila pays more than Andy to fly from the UK to Australia.