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?

Answer 1

1 Swiss Francs = 1.03 US dollars
12986.64 Swiss Francs = 13354.72 US dollars

But, wait! It wants it in months. There are 12 months in a year. So we divide 13354.72 by 12 to get the answer.

13354.72 / 12 = $1112.89