If the U.S. dollar were replaced with a "new dollar" at an exchange rate of 1 new dollar for 8 old dollars, then a mortgage of $200,000 would become a debt of 25,000 new dollars.

Question

Quizplus · Accepted Answer

If 1 new dollar is equivalent to 8 old dollars, then we can perform the following conversion:

$200,000 ÷ 8 = 25,000 new dollars.

Therefore, the statement is true.

If the US Dollar Were Replaced with a "New Dollar" at an at an Exchange