To convert euros to dollars at the given exchange rate, multiply the euro amount by what?

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Study for the MTTC Business Management, Marketing, and Technology (098) Test. Use flashcards and multiple choice questions with detailed explanations for each question. Prepare effectively for your exam!

Multiple Choice

To convert euros to dollars at the given exchange rate, multiply the euro amount by what?

Explanation:
Understanding currency conversion relies on the exchange rate, which tells you how many dollars one euro is worth. To convert euros to dollars, multiply the euro amount by the dollar-per-euro rate. Here, the given rate is 2.50 dollars per euro, so you multiply euros by 2.50 to get dollars. For example, 80 euros becomes 80 × 2.50 = 200 dollars. Using 0.40 would treat each euro as worth 40 cents, 5.00 would imply five dollars per euro, and 1.20 would give 1.20 dollars per euro. The correct multiplier is 2.50 because that reflects the stated rate.

Understanding currency conversion relies on the exchange rate, which tells you how many dollars one euro is worth. To convert euros to dollars, multiply the euro amount by the dollar-per-euro rate.

Here, the given rate is 2.50 dollars per euro, so you multiply euros by 2.50 to get dollars. For example, 80 euros becomes 80 × 2.50 = 200 dollars.

Using 0.40 would treat each euro as worth 40 cents, 5.00 would imply five dollars per euro, and 1.20 would give 1.20 dollars per euro. The correct multiplier is 2.50 because that reflects the stated rate.

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