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April 20, 2014

Homework Help: U.S. and Global economics; involving math problems

Posted by Mary on Monday, November 11, 2013 at 10:03am.

I've been working on this problem for "hours" and I can't quite figure out how to solve it; can anyone help plzzz? I would appreciate it. :)

Two college students went on spring break to Guadalajara, Mexico. One took the vacation in 2002, while the other went in 2006. Each student had $500 to spend. In 2002, the exchange rate of MXN/USD (Mexican pesos to U.S. dollars) was 9. In 2006, the exchange rate was 11. A hotel room in Guadalajara cost 200 pesos per night in 2002, and 220 pesos in 2006. If each spent five nights in a hotel, which student had more pesos left over? Exactly how many did that student have?

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