Question

Convert the currency using the given exchange rate. Round to the nearest whole number. Convert 55 Canadian dollars to United States dollars. (1 United States dollar $=1.466$ Canadian dollars)

Name: Problem 53, Chapter 6: Algebra 1: Concepts and Skills
Uploaded: 2023-08-26T14:42:37-08:00
Duration: 1 min 48 s
Channel: Jill Tolbert
Description: Convert the currency using the given exchange rate. Round to the nearest whole number. Convert 55 Canadian dollars to United States dollars. (1 United States dollar =1.466 Canadian dollars)

   Convert the currency using the given exchange rate. Round to the nearest whole number.
Convert 55 Canadian dollars to United States dollars.
(1 United States dollar $=1.466$ Canadian dollars)

Algebra 1: Concepts and Skills

Ron Larson, Laurie… 1st Edition

Chapter 6, Problem 53

Instant Answer

Solved by Expert Jill Tolbert

08/26/2023

Step 1

The exchange rate tells us that 1 United States dollar is equivalent to 1.466 Canadian dollars. We can write this as a ratio: \[ \frac{1}{1.466} \] Show more…

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Convert the currency using the given exchange rate. Round to the nearest whole number. Convert 55 Canadian dollars to United States dollars. (1 United States dollar $=1.466$ Canadian dollars)

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Key Concepts

Rounding

Rounding is a mathematical technique used to simplify numbers by adjusting them to a specified level of precision, such as the nearest whole number, which is often necessary for practical financial computations.

Unit Conversion

Unit conversion is the process of converting a quantity expressed in one set of units into an equivalent quantity in another set of units by using a conversion factor, ensuring that the overall value remains consistent.

Exchange Rate

An exchange rate is a ratio that expresses the value of one currency in terms of another currency. It provides the factor by which to multiply an amount in one currency to obtain an equivalent amount in another.

Currency Conversion

Currency conversion involves changing an amount of money from one currency to another using a specified conversion rate. This process is crucial for comparing monetary values across different regions and is widely applied in international finance and trade.

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