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You are taking a trip to six European countries
You are taking a trip to six European countries. It is a ten-day trip, and you are taking $3,300. The current direct conversion rate is $1.3075 for euros. While in Europe, you spend €2,335.71. You convert your remaining euros back to U.S. dollars upon your return. If the exchange rates remained the same over your trip, how much do you have left in U.S. dollars?
Expert Solution
Given,
Amount in Dollar taken= $3,300
Exchange rate= $1.3075 per Euro
Therefore, amount in Euro = 3300/1.3075 = €2,523.90
Also given, Money spent in Europe= €2,335.71 and the exchange rate remains unchanged
Therefore, net amount left in dollar= €(2523.90-2335.71)*1.3075
= 188.19*1.3075 = $246.06
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