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

First, he converted $1750 to Chilean pesos. To find the amount he had in Chilean pesos, you have to multiply 1750*496.5000. You should get 868,875. Now subtract what he spent, and you get 651362 pesos. To find how many bolivars he had, multiply again. 651362*0.1283=83569.74. Then he spent 38422.19, leaving with 45147.55. Multiply once more to find his amount in guarani. He got super rich, with 48034735.82 guaranis. Subtract again, and you end up with 35177294.43. Finally, multiply for the dollars. Your answer should be b.