Question

You just returned from a trip to Italy and have 730 euros remaining. How many dollars will you receive when you return home if the exchange rate is .9171 euros per U.S dollar?

$795.99

$842.81

$769.59

$669.48

$699.74

Answer 1

Dollars amount to be received when you return home if the exchange rate is 0.9171 euros per U.S dollar

Here, the given exchange rate of 0.9171 euros per U.S dollar is in an indirect quote against Euro, Therefore, we need to divide the exchange rate from the 730 euros to find the exact Dollars amount to be received when you return home

Therefore, the Dollars amount to be received = 730 Euros / 0.9171 euros per U.S dollar

= $795.99

“Hence, the Dollars amount to be received after you return the home would be $795.99”