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A US company has to pay 500,000 for a new machine.
You have the following information on currencies.
EUR1 = 1.2300
EUR 1= USD1.6200
What is the cost of the machine in USD?
Give your answer to the nearest $.
Suggested Answer: A
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30 comments · newest first
ME
Merilyn
3 months ago
Yes, but we need to round it to the nearest dollar.
CE
Cecily
3 months ago
Wait, is that the final answer?
ME
Merlyn
3 months ago
Right! 500,000 * 1.6200 = 810,000 USD.
HA
Haydee
3 months ago
So, if EUR1 = USD1.6200, then 500,000 EUR is...
ME
Merilyn
3 months ago
I feel like I need to double-check my math.
CE
Cecily
4 months ago
But the rates are confusing.
ME
Merlyn
4 months ago
I think it's straightforward. Just convert EUR to USD.
HA
Haydee
4 months ago
This question is tricky.
NA
Nadine
6 months ago
Yup, that's the math!
DI
Dino
6 months ago
I thought it would be cheaper, honestly.
DE
Denny
6 months ago
Wait, are you sure about those conversions?
MA
Malcom
6 months ago
That's right, it's a big investment!
JU
Junita
6 months ago
The machine costs about $615,000!
JE
Jeannetta
6 months ago
$812,500? Sounds like a steal! Where can I get one of those machines?
MA
Mariko
7 months ago
$812,500 seems about right. Now I just need to figure out how to get my boss to approve the budget for this machine.
MY
My
7 months ago
I'm pretty sure the answer is $812,000. Gotta love those currency conversions!
JU
Justine
7 months ago
Looks like the machine is going to cost an arm and a leg!
NI
Nikita
7 months ago
The cost of the machine in USD is $812,500.
LO
Lonna
7 months ago
I believe we should use the exchange rates given, but I can't recall if we need to divide or multiply. This is tricky!
TO
Toshia
7 months ago
Wait, does that mean we need to find out how many EUR 500,000 is first? I'm a bit confused about the order of operations here.
ER
Ernest
8 months ago
I practiced a similar question where we had to convert currencies, and I think we multiply the EUR amount by the exchange rate to get USD.
LA
Latrice
8 months ago
I think I remember that we need to convert EUR to USD first, but I'm not entirely sure how to do the calculations.
MI
Ming
9 months ago
Hmm, I'm not sure how to approach this. I think I need to do some currency conversions, but I'm not confident I'm doing it right.
YO
Yong
9 months ago
No problem, I've got this. I'll start by converting the EUR to USD, then I can round the final amount to the nearest dollar.
RO
Rolande
9 months ago
I'm a bit confused. Should I use the first exchange rate or the second one? I'm not sure which one to apply first.
KA
Karon
9 months ago
First, I'll convert the EUR to USD using the second exchange rate given. Then I'll round the final answer to the nearest dollar.
LO
Loreta
9 months ago
Okay, let's think this through step-by-step. We need to convert the EUR cost to USD.
SA
Sanda
2 months ago
First, we find the conversion rate. 1 EUR = 1.6200 USD.
AN
Andree
2 months ago
Right! We need to convert that to USD.
DO
Dolores
3 months ago
So, we start with 500,000 EUR.