If the nominal exchange rate is 1.235 Canadian dollars per U.S.dollar,and is 10.663 Mexican pesos per Canadian dollar,then there are _________ Mexican pesos per U.S.dollar.

Question

Quizplus · Accepted Answer

To solve the problem, we need to convert Canadian dollars to U.S. dollars and then to Mexican pesos.

1 U.S. dollar = 1.235 Canadian dollars

Therefore, 1 Canadian dollar = 1 / 1.235 U.S. dollars

1 Canadian dollar = 0.8097 U.S. dollars

10.663 Mexican pesos = 1 Canadian dollar

So, 10.663 Mexican pesos = 0.8097 U.S. dollars

To find out how many Mexican pesos per U.S. dollar:

1 U.S. dollar = (10.663 Mexican pesos) / (0.8097 U.S. dollars)

1 U.S. dollar = 13.169 Mexican pesos

Therefore, the answer is E: 13.169.

If the Nominal Exchange Rate Is 1