Wednesday

March 4, 2015

March 4, 2015

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

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 7:30pmYou 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 ...

MATH! - If the Canadian dollar is worth 49% less than the U.S. dollar, then the ...

Finance - The spot exchange rate for the Canadian dollar is Can $1.14 and the ...

statistics - I have 6 bills that total $63 and there are no $1 or coins? what ...

economics - If a country sells a currency dollar would the exchange rate price ...

Exchange Rates Help - Hello, How do you know if the Canadian dollar is rising or...

Economics - What does it mean when one currency is falling against another ...

Pseudocode programming - I need a currency conversion application. It does not ...

economics - What effects will this change have on the exchange rate of the ...