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Currency exchange rates.
On the day you arrive in​ England, the exchange rate for U.S. dollars and British pounds is ​$1:pound 0.49. You have ​$3 comma 700​, which you convert to pounds. While you remain in England for the next two​ weeks, the exchange rate falls to ​$1:£0.45. As you leave​ England, you convert the ​£146 you have left to dollars.

How much did you spend in England in U.S.​ dollars? Did the movement in the exchange rate help or hurt​ you? How much did you spend in England in U.S.​ dollars?

Respuesta :

pedrocarratore

Answer:

$3,402.04

Movement helped you

Explanation:

The initial amount of $3,700 when converted to British pounds at a rate of $1:£0.49 yielded:

[tex]I = \$3,700*0.49\frac{\pounds}{\$}\\I=\pounds 1,813[/tex]

If the remaining amount was ​£146, the total spend in dollars is given by:

[tex]S=\frac{\pounds1,813- \pounds146}{0.49} \\S=\$3,402.04[/tex]

The amount spent in England in U.S.​ dollars was $3,402.04.

If the exchange rate was still $1:£0.49, the amount received back would be:

[tex]A_1 = \frac{146}{0.49}=\$297.96[/tex]

At the new rate of $1:£0.45, the amount received is:

[tex]A_2 = \frac{146}{0.45}=\$324.44[/tex]

Therefore, the movement in the exchange rate helped you.

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