PLSSS HELPPP!!1.) Review the table below. Note: the exchange rates are just examples and are not intended to be accurate. You will use the information in the table and what you learned in the lesson to answer the questions that follow.

Country and currency 2013 U.S. currency exchange rate 2020 U.S. currency exchange rate
Canada (Canadian dollar, or CAD) 1 USD = 1.50 CAD 1 USD = 1 CAD
India (Indian rupee, or INR) 1 USD = 50 INR 1 USD = 70 INR
South Africa (South African rand, or ZAR) 1 USD = 8 ZAR 1 USD = 12 ZAR

2.) In at least two complete sentences, explain why a traveler will need to visit a currency exchange. Include how exchange rates are determined.

3.) You have $100 in the United States. Imagine you are visiting India in 2020 to check out new products. How much would your $100 be in Indian rupees? (Be sure to show your work.)

4.) You read about a new invention in Canada. You consider traveling there instead. In 2020, how much would your $100 be in Canadian dollars? (Be sure to show your work.)

5.) In 2020, a computer part costs 100 CAD in Canada, and the same part costs 5600 INR in India. Should you travel to Canada or to India to buy the part? Explain your answer

6.) You buy certain supplies in South Africa. Would it have been less expensive to buy these supplies in 2013 or in 2020? Explain your answer in complete sentences.

Answers

Answer 1

Answer:

Answer:

1: The currency exchange is a business that has the legal right to exchange the currency of one country with the currency of another country. This type of business is known as foreign exchange market. It is necessary for a traveler to visit the currency exchange, if he/she is traveling to foreign countries. Each and every country has unique currency system. It is necessary to get the currency of the country we are visiting. The exchange rate of the currency can be determined in two ways: fixed rate and floating rate. The exchange rate of the currency is decided by the government based on the market force and geopolitical condition. 2: answer : 141.32

Explanation USD CAD

$, US$ 50 C$ 70.66

$, US$ 100 C$ 141.32

$, US$ 250 C$ 353.30

$, US$ 500 C$ 706.61

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