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.

Answer 1

$768.98

Explanation:

Converting $1750 USD to Chilean pesos, we have

1750(496.5) = 868,875 CLP.

Spending 217,513 pesos gives us

868,875 - 217,513 = 651,362

Converting CLP to VEF, we have

651362*0.1283 = 83569.74

Spending 38,422.19 bolivars leaves us with

83,569.74 - 38,422.19 = 45,147.55

Converting VEF to PYG, we have

45147.55(1063.95) = 48,034,735.82

Spending 12,857,441.39 guarani leaves us with

48,034,735.82-12,857,441.39 = 35,177,294.43

Converting these PYG back to USD gives us

35,177,294.43(0.00002186) = 768.98

Answer 2

To calculate, 1st convert 1,750 USD to CLP by multiplying it with exchange rate 496.50 CLP/1USD. Total is CLP 868,875. Then by subtracting the expenses in CLP (CLP 217,513), remaining is CLP 651,362. Convert it to VEF by multiplying the exchange rate 0.1283 VEF/1 CLP. Resulting is VEF 83,569.74. Then, subtract it with the expenses in VEF (VEF 31,422.19). Remaining VEF is VEF 45,147.55. Next, convert it to PYG by multiplying it with 1,063.95 PYG/1 VEF. Result is PYG 48,034,740.72. Next, subtract it with the expenses in PYG (PYG 12,857,441.39). Difference is PYG 35,177,299.33. Lastly, convert if to USD by multiplying it with 0.00002186 USD/1 PYG. Final answer is USD 768.98.