Last year when Laura attended a business conference in Berlin, the exchange rate was €0.7 for US$1. This year she plans to attend that same conference and she notes that the exchange rate is €0.8 for US$1. Laura estimates that her lodging and meals will be _____ expensive than last year.

Question

Quizplus · Accepted Answer

The exchange rate has increased from €0.7 to €0.8 per US$1, meaning Laura gets more euros for each dollar. This makes her expenses in euros less expensive by approximately 13%.

Last Year When Laura Attended a Business Conference in Berlin