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Ron was vacationing in? France, when his camera was stolen

Economics Mar 18, 2021

Ron was vacationing in? France, when his camera was stolen. As he walked into a camera? store, Ron noticed that camera prices were in euros. If Ron was willing to pay ?$150 for a new digital camera and the exchange rate is ?$0.85 per? euro, how much will Ron be paying in? euros?

 

Ron will be paying ________? euros for the camera. (?Instructions: Enter your response by rounding two places after the? decimal.)

 

Expert Solution

Answer:

Ron will be paying 176.47 Euros for the camera.

See the explanation (and calculation) in the Explanation section below.

Step-by-step explanation

We have the following information:

 ?$150 for a new digital camera

the exchange rate is ?$0.85 per? euro

1 Euro = $0.85

2 Euros = $0.85 x 2 = $1.70

3 Euros = $0.85 x 3 = $2.25

Working the dollar amount into Euros:

$1.70/ 0.85 = 2 Euros

$2.25/ 0.85 =3 Euros..... and so on

Therefore,

$150/ 0.85 = 176.47 Euros

Looked at another way:

For every Euro he has to pay, it only costs him $0.85, so

176.47 Euros x 0.85 = $150

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