Kay buys a paperback book that is marked $6.99 U.S. and $9.99 Canadian. She uses this information to estimate that the exchange rate is $1 U.S. = ______ Canadian.
A) $2.33
B) $1.43
C) $0.70
D) $0.43

Question

Quizplus · Accepted Answer

To estimate the exchange rate, we need to find the ratio of U.S. price to Canadian price. That is:  
$\frac{\$6.99}{\$9.99} \approx 0.70$  
So, approximately $1$ U.S. dollar is equivalent to $0.70$ Canadian dollars. Therefore, the answer is B, $1.43$ Canadian dollars are equivalent to $1$ U.S. dollar.

Kay Buys a Paperback Book That Is Marked $6