Mitchell travels from the US to Canada, where he exchanges 150 US dollars for Canadian dollars. He then spends 20 Canadian dollars, returns to the US, and exchanges the remaining money back to US dollars. How many US dollars does Mitchell have remaining?

A. 129.46
B. 130.00
C. 130.66
D. 134.59



Answer :

Let's go through the problem step-by-step.

1. Initial Amount in USD:
Mitchell starts with 150 US dollars.

2. Exchange USD to Canadian Dollars:
The exchange rate from USD to Canadian dollars is given as 0.97071. This means 1 USD = 0.97071 Canadian dollars.
To calculate the Canadian dollars Mitchell receives:
[tex]\[ \text{Canadian dollars} = 150 \, \text{USD} \times 0.97071 = 145.6065 \, \text{CAD} \][/tex]
So, he gets approximately 145.61 CAD.

3. Spending in Canada:
Mitchell spends 20 Canadian dollars.
Therefore, the remaining amount in Canadian dollars is:
[tex]\[ \text{Remaining Canadian dollars} = 145.6065 \, \text{CAD} - 20 \, \text{CAD} = 125.6065 \, \text{CAD} \][/tex]
So, he has approximately 125.61 CAD left.

4. Exchange Canadian Dollars back to USD:
The exchange rate from Canadian dollars to USD is given as 1.03069. This means 1 CAD = 1.03069 USD.
To calculate the USD Mitchell receives:
[tex]\[ \text{Remaining USD} = 125.6065 \, \text{CAD} \times 1.03069 = 129.4614 \, \text{USD} \][/tex]
Hence, he receives approximately 129.46 USD when he converts the remaining Canadian dollars back to USD.

Therefore, the amount of US dollars Mitchell has remaining after his trip is closest to 129.46 US dollars.

So, the correct answer is 129.46.