Matt Kaminsky Bought a Volvo That Is 3 3/4 Times

question 46

Multiple Choice

Matt Kaminsky bought a Volvo that is 3 3/4 times as expensive as the car his parents bought. If his parents paid $8,000 for theirs, what is the cost of Matt's car?

• A) $26,000
• B) $28,000
• C) $29,000
• D) $30,000
• E) None of these

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Definitions:

Exports

Products or services shipped from one country to another for the purpose of sale or exchange.

Arbitragers

Individuals or entities that attempt to profit from differences in prices across markets by simultaneously buying and selling similar or identical assets.

Pakistani Rupees

The official currency of Pakistan, used as a medium of financial transaction within the country.

Real Exchange Rate

The rate at which the currency of one country can be exchanged for the currency of another country, adjusted for inflation.