[LINE][LINE]Jeanine Started on Vacation in the U

question 214

Multiple Choice

[LINE][LINE]Jeanine started on vacation in the U.S. with a total of $5,000US to spend. She went to London where she exchanged her $5,000 for British pounds. The exchange rate was $1 = £.69.
Jeanine spent half of her money while touring the U.K. She then left the UK and traveled to
Germany where she exchanged her remaining British pounds into Euros. The exchange rates at the
Time were $1 = £.70 and EUR 1.07 = $1. How many Euros does Jeanine have?

• A) $2,129
• B) $2,303
• C) $2,370
• D) $2,637
• E) $5,538

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Definitions:

Account

A record or report that tracks financial transactions and the financial position of an individual, company, or other organization.

Interest Rate

The levy, stipulated as a percentage of the principal, made by lenders for borrowers employing their assets.

Account Balance

The amount of money present in a financial repository, such as a checking or savings account, at any given time.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage rate.