Question

On January 29, 2019, Australian authorities confiscated 157.7 kilograms of heroin with an estimated street value of 77 million AUD (Australian dollars). The exchange rate at the time was 1 USD = 1.42 AUD. Based on this information, what was the value in U.S. Dollars per pound for the heroin? Round your answer to the nearest thousand dollars.

Answer 1

Answer: $343849

Explanation:

Since the exchange rate at the time was 1 USD = 1.42 AUD, therefore we will convert 77 million AUD to dollars which will be:

= 77 million / 1.42

= $54.225 million

Therefore, the value in U.S. Dollars per pound for the heroin will be:

= $54.225 million / 157.7

= $343849 pee pound