Question

Use the following information to complete Exercises. Round all answers to two decimal places. 1 $\mathrm{USD} \approx 1.07$ Canadian dollars $\mathrm{CAD}$ $\qquad$ 1 $\mathrm{USD} \approx 89.85$ Japanese yen (JPY) 1 $\mathrm{USD} \approx 0.69$ Euros $\mathrm{EUR}$ $\qquad$ 1 $\mathrm{USD} \approx 7.34$ South African rand $\mathrm{ZAR}$ 1 $\mathrm{USD} \approx 1.16$ Australian dollars $\mathrm{AUD}$ $\qquad$ 1 $\mathrm{USD} \approx 1.00 \mathrm{Swiss}$ franc $(\mathrm{CHF})$ Shyla will be driving through South Africa. She has found that the average price of gas in Johannesburg is about 19.24 ZAR per liter. a. What is this amount equivalent to in U.S. dollars? b. What is this rate equivalent to in U.S. dollars per gallon?

Name: Problem 20, Chapter 5: Financial Algebra
Uploaded: 2020-12-11T05:19:56-08:00
Duration: 2 min 54 s
Channel: Tanya Mander

   Use the following information to complete Exercises. Round all answers to two decimal places.

1 $\mathrm{USD} \approx 1.07$ Canadian dollars $\mathrm{CAD}$ $\qquad$ 1 $\mathrm{USD} \approx 89.85$ Japanese yen (JPY)
1 $\mathrm{USD} \approx 0.69$ Euros $\mathrm{EUR}$ $\qquad$ 1 $\mathrm{USD} \approx  7.34$ South African rand $\mathrm{ZAR}$
1 $\mathrm{USD} \approx 1.16$ Australian dollars $\mathrm{AUD}$ $\qquad$ 1 $\mathrm{USD} \approx 1.00 \mathrm{Swiss}$ franc $(\mathrm{CHF})$

Shyla will be driving through South Africa. She has found that the average price of gas in Johannesburg is about 19.24 ZAR per liter.
a. What is this amount equivalent to in U.S. dollars?
b. What is this rate equivalent to in U.S. dollars per gallon?

Financial Algebra

Robert Gerver,… 1st Edition

Chapter 5, Problem 20

Instant Answer

Solved by Expert Tanya Mander

12/11/2020

Step 1

S. dollars (USD). We know that 1 USD is equivalent to 7.34 ZAR. So, we can set up a ratio to find the equivalent price in USD. \[19.24 \, \text{ZAR} \times \frac{1 \, \text{USD}}{7.34 \, \text{ZAR}}\] Show more…

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Use the following information to complete Exercises. Round all answers to two decimal places. 1 $\mathrm{USD} \approx 1.07$ Canadian dollars $\mathrm{CAD}$ $\qquad$ 1 $\mathrm{USD} \approx 89.85$ Japanese yen (JPY) 1 $\mathrm{USD} \approx 0.69$ Euros $\mathrm{EUR}$ $\qquad$ 1 $\mathrm{USD} \approx 7.34$ South African rand $\mathrm{ZAR}$ 1 $\mathrm{USD} \approx 1.16$ Australian dollars $\mathrm{AUD}$ $\qquad$ 1 $\mathrm{USD} \approx 1.00 \mathrm{Swiss}$ franc $(\mathrm{CHF})$ Shyla will be driving through South Africa. She has found that the average price of gas in Johannesburg is about 19.24 ZAR per liter. a. What is this amount equivalent to in U.S. dollars? b. What is this rate equivalent to in U.S. dollars per gallon?

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Key Concepts

Unit Conversion

Unit conversion is the process of changing a quantity expressed in one set of units to another using conversion factors. This is crucial not only in mathematics but also in science and everyday life. Conversions often involve factors between related units, such as liters and gallons, to ensure consistency and accuracy when comparing, quantifying, or using measurements in different systems.

Currency Conversion

Currency conversion involves using exchange rates to translate amounts from one currency to another. The exchange rate, which indicates how much one unit of a currency is worth in another currency, is essential for performing these conversions. This concept is important in economics, finance, travel, and international trade, and requires understanding ratios and unit multipliers to ensure accurate calculations.

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