Homework Help: Math

Posted by Anonymous on Sunday, January 20, 2013 at 4:59pm.

Many nations compare the value of their currency to the US dollar. On a day early in 2009, $1 CDN (1 Canadian dollar) was worth $0.8290 USD (US dollar). This is known as an exchange rate. On the same date $1 USD could be used to buy 0.7579 Euros or 0.6709 UK pounds (United Kingdom pounds Sterling).

Demonstrate and explain how the above exchange rates could be used to create composite functions to convert Canadian dollars to Euros or UK pounds. (4 marks)

I am planning a trip to Portugal, Spain and France with a side trip to England. Using your composite functions, determine how many Euros I could get for $1000 CDN and how many UK pounds for $500 CDN. (2 marks)

Math - Jennifer, Tuesday, January 22, 2013 at 7:30pm
You can take any two currency exchange rates and divide them by each other to get 1:

for example

1 CDN = $0.829
Dividing both sides by 1 CDN

1 CDN / 1 CDN = 1 = $0.829/1 CDN

Since you can multiply anything by 1 and still get the same result (1*x = x); You can multiply by the correct ratio to convert currency.

For example

1 CDN = 1 CDN * ($0.829 / 1CDN ) * (0.7579 EU / $1)

The dollars and CDN units will cancel giving

1 CDN = 0.829 * 0.7579 Euros

Do something similar to convert Canadian dollars to UK pounds
Math - Jennifer, Tuesday, January 22, 2013 at 7:30pm
You can take any two currency exchange rates and divide them by each other to get 1:

for example

1 CDN = $0.829
Dividing both sides by 1 CDN

1 CDN / 1 CDN = 1 = $0.829/1 CDN

Since you can multiply anything by 1 and still get the same result (1*x = x); You can multiply by the correct ratio to convert currency.

For example

1 CDN = 1 CDN * ($0.829 / 1CDN ) * (0.7579 EU / $1)

The dollars and CDN units will cancel giving

1 CDN = 0.829 * 0.7579 Euros

Do something similar to convert Canadian dollars to UK pounds

Answer this Question

Related Questions

Math - Many nations compare the value of their currency to the US dollar. On a ...
Math - Many nations compare the value of their currency to the US dollar. On a ...
programming - Write a php program for Currency conversion. Input Currency name, ...
economics - If a country sells a currency dollar would the exchange rate price ...
Economics - What does it mean when one currency is falling against another ...
finance - will the US dollar remain the curency of choice, have any nations ...
statistics - I have 6 bills that total $63 and there are no $1 or coins? what ...
US history - Which of the following is an American organization founded in the ...
Pseudocode programming - I need a currency conversion application. It does not ...
Algebra - What would the currency be from Afghanistan currency if sunglass cost...

For Further Reading

First Name:
School Subject:
Answer: