Rapheal is enrolled as a foreign-exchange student. He is from Canada and is going to attend school in Texas. On average he can spend $82 USD each month for the 5 months he is visiting. If his mother sent him $500 CAD when he first arrived, what was the exchange rate of USD to CAD.

Question

Mathematics

Xander Gates

12 June, 02:46

Rapheal is enrolled as a foreign-exchange student. He is from Canada and is going to attend school in Texas. On average he can spend $82 USD each month for the 5 months he is visiting. If his mother sent him $500 CAD when he first arrived, what was the exchange rate of USD to CAD.

+1

Answers (1)

Know the Answer?

Aimee Stewart · Answer 1

1.2195

Step-by-step explanation:

For each month, he is given (on avg) $100 (CAD).

If on avg he can spend $82 (USD) each month,

then the USD: CAD ratio is

100:82, meaning $1 (USD) is equivalent to $.82 (CAD)

and the exchange rate is calculated by equating 1 =.82x

thus, x = 1/.82 = 1.2195