The current exchange rates show that US$1.00 = €0.7700. If you have $450 US dollars to exchange and the currency exchange charges 2.5% on all transactions, how many euros will you be able to buy?

Question

Quizplus · Accepted Answer

First, calculate the total amount in euros without the transaction fee: $450 * €0.7700 = €346.50. Then, subtract the 2.5% fee: €346.50 * 0.975 (100% - 2.5% = 97.5%) = €337.8375, which rounds to €337.84.

The Current Exchange Rates Show That US$1