Question

A family uses 12,986.64 Swiss francs per year to pay a mortgage that requires US dollars. Approximately how much, in US dollars, does the family spend per month on the mortgage?

1 US dollar = 0.9019 Swiss francs

1 Swiss franc = 1.11 US dollar

Answer 1

C: $1,200

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Answer 2

The family has to pay approximately $1,201.

Explanation:

A family use to pay a mortgage each year = 12,986.64 Swiss Francs

In this question we have to convert 12,986.64 Swiss francs in U.S. Dollars.

1 U.S. Dollar = 0.9091 Swiss francs

1 Swiss franc = 1.11 US Dollar.

Therefore, 12,986.64 Swiss francs = 1.11 × 12,986.64 = 14,415.17 U.S. Dollar per year.

Now we have to calculate the amount per month to be paid =

14,415.17 ÷ 12 = $1,201.26

The family has to pay approximately $1,201.