Horace is seeking to exchange money in preparation for his trip to Uruguay. He will need 5,000 Uruguayan pesos, and the exchange rate between the US dollar and the Uruguayan peso is 1:19.924. The currency exchange agent Horace is using requires that a 5% surcharge be paid when converting currency. Taking the surcharge into account, how many US dollars will it take Horace to get 5,000 pesos? Round to the nearest cent. a. \$237.45 b. \$249.05 c. \$250.95 d. \$263.50
If the exchange agent that Horace is using requires 5% surcharge, this means that he will get only 95% of the money for the exchanges. (0.95)(19.924) = 18.9278 In order to get 5,000, 5000 = (x)(18.9278) where x is the number of dollars. The value of x from the equation generated above is, 263.5.
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Question
Updated 339 days ago|6/19/2023 11:38:15 AM
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If the exchange agent that Horace is using requires 5% surcharge, this means that he will get only 95% of the money for the exchanges.
(0.95)(19.924) = 18.9278
In order to get 5,000,
5000 = (x)(18.9278)
where x is the number of dollars. The value of x from the equation generated above is,
263.5.
Added 339 days ago|6/19/2023 11:38:15 AM

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