In December 2004, the exchange rate of Mexican pesos to American dollars was 9.52 to 1. You paid 450 pesos for a jacket. Use the following model to find the price of the jacket in dollars.

Show work

1/9.52 = $/450

Solve for $.

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To find the price of the jacket in dollars, we can use the exchange rate of Mexican pesos to American dollars.

First, we need to determine how many American dollars one Mexican peso is worth. Given that in December 2004, the exchange rate was 9.52 pesos to 1 dollar, we can convert the price of the jacket from pesos to dollars by dividing the amount in pesos by the exchange rate.

So, to find the price of the jacket in dollars, we can use the formula:

Price in dollars = Price in pesos / Exchange rate

In this case, the price of the jacket is 450 pesos. Plugging this into the formula, we get:

Price in dollars = 450 pesos / 9.52 pesos/dollar

Now, we can divide 450 pesos by 9.52 pesos/dollar to find the price in dollars:

Price in dollars ≈ 47.239 dollars

Therefore, the price of the jacket in dollars is approximately $47.24.