Today, you can get either 116 Canadian dollars or 1,102 Mexican pesos for 100 U.S. dollars. Last year, 100 U.S. dollars was worth 123 Canadian dollars or 1,148 Mexican pesos. Which one of the following statements is correct given this information?
A) $100 converted into Canadian dollars last year would now be worth $105.23.
B) $100 converted into Mexican pesos last year would now be worth $99.17.
C) $100 converted into Mexican pesos last year would now be worth $104.17.
D) $100 converted into Canadian dollars last year would now be worth $94.31.
E) $100 invested in Canadian dollars last year would now be worth $107.47.
Correct Answer:
Verified
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