Currency Exchange Rates

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Currency Exchange Rates
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Continuum Questions

• How many siblings do you have?
• What month is your birthday?
• How many miles will you travel over winter break?
• How many different states have you traveled to?
• How many different countries have you traveled
  to?
• How many different types of money can you name
  (for example, the U.S. money is the dollar)?

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Exchange Rates
One of the services banks provide is currency
exchange -- changing money from one type to
another. The exchange rate is the amount of one
currency you can get for another. They are
determined by international currency markets
where people bid for various currencies. The
website http//www.oanda.com/convert/classic
gives exchange rates between most currencies in
the world.
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Percent Review
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Examples
How many Mexican pesos is 1 (US) worth? Suppose
you go to Mexico on vacation. You change 300
into pesos. How many pesos will you get? Now,
suppose the bank charges you a 2 fee to change
the money. How many pesos will you get for your
300 now? When you get done with the vacation you
have 1500 pesos left over. How many dollars will
get for these pesos? Answer with and without the
2 fee.