Question

Geoffery went on a trip across South America. He took 1,750 US dollars (USD) with him. In Chile, he traded his money for Chilean pesos (CLP) at a rate of USD:CLP = 1:496.5000. He spent 217,513 pesos before he went to Venezuela. In Venezuela, he traded his Chilean pesos for Venezuelan bolivars (VEF) at a rate of CLP:VEF = 1:0.1283. During his time in Venezuela, he spent 38,422.19 bolivars. At his next stop, Paraguay, he traded his Venezuelan bolivars for Paraguayan guarani (PYG) at a rate of VEF:PYG = 1:1063.9500. He spent 12,857,441.39 guarani before returning to the United States, where he traded his Paraguayan guarani for US dollars at a rate of PYG:USD = 1:0.00002186. How much money did Geoffery have remaining, in US dollars? Round all currency values to two decimal places. a. $1,353.13 b. $768.98 c. $662.60 d. $281.06

Answer 1

Answer is B.) $768.98

Given:
1,750 USD

USD:CLP = 1:496.500
1,750 USD * 496.5 = 868,875 CLP
868,875 CLP - 217,513 CLP = 651,362 CLP

CLP:VEF = 1:0.1283
651,362 CLP * 0.1283 = 83,569.7446 VEF
83,569.7446 VEF - 38,422.19 VEF = 45,147.5546 VEF

VEF:PYG = 1:1063.95
45,147.5546 VEF * 1063.95 = 48,034,740.70 PYG
48,034,740.70 PYG - 12,857,441.39 PYG = 35,177,299.30 PYG

PYG:USD = 1:0.00002186
35,177,299.30 PYG * 0.00002186 = 768.98 USD