You have returned from a trip to Europe and still have €128 euro. How much in U.S. dollars should you receive if the exchange rate is $1 USD = €EUR 0.6991?

Question

(1 point)
Responses

$183.09
$183.09

$89.48
$89.48

$128.70
$128.70

$127.30

Answer 1

To convert euros to U.S. dollars using the given exchange rate of $1 USD = €0.6991, we first need to find how many dollars correspond to €128.

The exchange rate can also be expressed as: 1 USD = €0.6991 Thus, to find out how many USD one euro is worth, we take the reciprocal of the exchange rate: 1 EUR = 1 / 0.6991 USD ≈ 1.4286 USD.

Now, we'll multiply the amount in euros by the euro-to-dollar conversion rate: €128 * 1.4286 USD/EUR ≈ $183.09.

Therefore, you should receive approximately $183.09.

The correct answer is: $183.09