Sanjay has 90 euros to spend before he flies back to the United States. He wishe

Question

Sanjay has 90 euros to spend before he flies back to the United States. He wishes to purchase jewelry priced at $165 (U.S.) in a duty-free shop at the airport. Euros can be bought for $1.34 and sold for $1.24. The owner of the duty-free shop tells Sanjay that the jewelry can be purchased for 90 euros plus $41 (U.S.). Is this a good deal for Sanjay? Assume there is a 7.5 euro commission on the exchange transaction If Sanjay accepts the deal, he will pay an equivalent of (Round to the nearest dollar.)

Explanation / Answer

total dollars he would pay = 41 + 90*1.34*1.075

total dollars he would pay = 170.65

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