Question

jessica is planning a trip to south africa. the following table shows some of her planned expenses for this trip, and whether these expenses are in us dollars ($) or south african rands (r).

if the exchange rate of us dollars to south african rands is 1:7.4094, what is the current total of jessicas budget, in us dollars? round all currencies to two decimal places.
a. $763.54
b. $791.86
c. $973.39
d. $1,001.71

Explanation:

Sum the expenses in US dollars

Using the Table Reading knowledge point

$$ \text{USD Subtotal} = 71.75 + 138.10 = 209.85 $$

Sum the expenses in South African rands

Using the Table Reading knowledge point

$$ \text{ZAR Subtotal} = 216.41 + 702.33 + 996.78 + 3,741.85 = 5,657.37 $$

Convert South African rands to US dollars

Using the Currency Conversion knowledge point

$$ \text{ZAR in USD} = \frac{5,657.37}{7.4094} \approx 763.5395 $$

Rounding to two decimal places:

$$ \text{ZAR in USD} \approx 763.54 $$

Calculate the total budget in US dollars

Using the Budget Calculation knowledge point

$$ \text{Total Budget} = 209.85 + 763.54 = 973.39 $$

Answer:

• a. $763.54
• b. $791.86
• c. $973.39 (Correct answer)
• d. $1,001.71