Final answer:
To find out how much $1 is worth in euros, we can use the given exchange rates. By setting up a proportion and solving it, we find that $1 is worth about 0.974 euros.
Step-by-step explanation:
To find out how much $1 is worth in euros, we need to use the given exchange rates. Since the pound (£) is equal to $1.31 and also equal to €1.16, we can use these two rates to find the exchange rate between the dollar and the euro.
To do this, we can set up a proportion. Let's say that $1 is equivalent to x euros. Then, we have the following proportion: £1/$1.31 = £1/€1.16 = $1/x.
Now, we can cross multiply and solve for x. We have (£1/$1.31)(€1.16/$1) = 1/x.
Dividing both sides by 1 gives us (£1/$1.31)(€1.16/$1) = 1/x. Simplifying this expression, we get (£1)(€1.16)/($1.31) = 1/x. Continuing to simplify, we find that (£1)(€1.16)/($1.31) = x.
Using a calculator, we can evaluate (£1)(€1.16)/($1.31) to find that x is approximately 0.974. Therefore, $1 is worth about 0.974 euros.