Suppose the current exchange rate is 27.55 Ghanaian Cedis per $1 US dollar and you have 184 Cedis. After a no-fee exchange how much money in US Dollars would you have?(Round your answer to the nearest cent)
Question
Suppose the current exchange rate is 27.55 Ghanaian Cedis per $1 US dollar and you have 184 Cedis. After a no-fee exchange how much money in US Dollars would you have?(Round your answer to the nearest cent)
Solution
To calculate how much money you would have in US dollars after exchanging 184 Ghanaian Cedis, you would need to divide the amount of Cedis you have by the current exchange rate.
Here's the step-by-step calculation:
- Identify the amount of Ghanaian Cedis you have, which is 184 Cedis.
- Identify the current exchange rate, which is 27.55 Ghanaian Cedis per $1 US dollar.
- Divide the amount of Ghanaian Cedis you have by the current exchange rate.
So, the calculation would be: 184 Cedis ÷ 27.55 Cedis/6.68
Therefore, after a no-fee exchange, you would have approximately $6.68 US dollars.
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