Econ Math Activity Questions?

Looking for help on the following questions. I've just gotten my econ packet back to make corrections on the questions I answered incorrectly. Can someone help me with these?

8. The table below shows the value of a number of currencies compared to the U.S. dollar on a hypothetical day. Use that information to calculate the following conversions. Show your calculations.

Exchange rates for one U.S. dollar (on a hypothetical day)

Hint: To convert one of the listed currencies to U.S. dollars, divide by the exchange rate shown. For example, 13 british pounds divided by 0.65 = 20 U.S. dollars. Then convert U.S. dollars to the other currency.

12. 13 British pounds = how many Egyptian pounds?

25. 130,345 Somalian shillings = how many Brazilian reals?

26. 1,992 Mexican pesos = how many swedish kronor?

42. 76 Canadian dollars = how many New Zealand dollars?

46. 718, 320 Japanese yen = how many Indian rupees?

Update:

Exchange rates for one U.S. dollar (on a hypothetical day)

2.81 Brazilian reals

0.65 British pounds

1.52 Canadian dollars

4.66 Egyptian pounds

48.88 Indian rupees

119.72 Japanese yen

9.96 Mexican pesos

2.06 New Zealand dollars

2,606.90 Somalian shillings

9.19 Swedish kronor

2 Answers

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  • johno
    Lv 6
    8 years ago
    Best Answer

    In order to find the answers to the above questions you need to provide us with the table showing the various currency rates to the dollar. In the absence of the table I will work out one example for you using the rates for today.

    Lets take number 42. i.e. Canadian dollars to New Zealand dollars

    US$1 = 0.9980 Canadian dollars

    US$1 = 1.2009 New Zealand dollars

    Therefore C$76 = US$76.15. This is C$76 divided by 0.9980

    And then US$76.15 = NZ$91.45. This is US$76.15 multiplied by 1.2009

    As the hint suggests, when you convert the non US$ currency to US$ you must divide by the rate. However, when you convert US$ to the non US$ currency you must multiple by the rate.

    This, of course, is only when the rates are expressed against the US$ as the base currency. If you want to use the foreign currency as the base in all cases and therefore always divide, then you must use what is called a reciprocal. This is found by dividing the number '1' by the rate. E.g. in this case, the US$/NZ$ rate of 1.2009 can be expressed as NZ$/US$ 0.8327. So taking US$76.15 and dividing it by 0.8327 you get the same answer as multiplying it by 1.2009

    In the 'real world' exchange dealers would actually use a 'cross rate'. I.e. a rate that combines the two rates against the US$ into one rate against each other. In this example the rate would be C$/NZ$ 1.2033. Thus C$76 multiplied by 1.2033 produces the same result - NZ$91.45. They get these cross rates by dividing the NZ$ rate by the Canadian$ rate - 1.2009 divided by 0.9980 = 1.2033.

    Additional Comment: I'll do one more for you and redo the NZ$/Can$ using your rates and you can finish off the rest yourself :-)

    13British pounds divided by 0.65 = US$20

    20US$ multiplied by 4.66 = 93.20 Egyptian pounds

    76C$ divided by 1.52 = US$50

    US$50 multiplied by 2.06 = NZ$103

    Just keep using the same formula as this but change the rates as per the list.

  • 4 years ago

    the answer is D: for numbers are part of the system and I ain't part of the system

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