If the Canadian dollar were replaced with a "new dollar" at an exchange rate of one new dollar for eight old dollars,then a mortgage of $100 000 would become a debt of _____ new dollars.
A) 12 500
B) 99 992
C) 100 000
D) 800 000

Question

Quizplus · Accepted Answer

The mortgage of $100,000 in old dollars would be divided by 8 to convert it to new dollars, resulting in $12,500 new dollars.

If the Canadian Dollar Were Replaced with a "New Dollar