Let's address the problem step-by-step to find out the cost of one selected airport gift shop souvenir in the currency of a chosen country.
Given data:
- Prices of souvenirs at the airport gift shop:
- Decorative mug: \[tex]$10.99
- Postcard: \$[/tex]3.99
- Keychain: \[tex]$4.59
- T-shirt: \$[/tex]16.29
- Teddy bear: \[tex]$8.89
- Currency exchange rates:
- 1 U.S. dollar (USD) = 6.4651 Chinese yuan (CNY)
- 1 U.S. dollar (USD) = 6.3394 Danish krone (DKK)
- 1 U.S. dollar (USD) = 8.6964 Swedish krona (SEK)
Step-by-step solution:
1. Select a souvenir: Let's choose a decorative mug that costs \$[/tex]10.99 USD.
2. Choose a country: Let's choose China, where the currency is the Chinese yuan (CNY).
3. Identify the exchange rate: The exchange rate for USD to CNY is [tex]\(6.4651\)[/tex].
4. Convert the cost of the souvenir into the selected currency:
- The cost of the decorative mug in USD: \[tex]$10.99.
- Exchange rate: 1 USD = 6.4651 CNY.
- To convert the cost into yuan, multiply the cost in USD by the exchange rate.
So, the calculation will be:
\[
\text{Cost in CNY} = \text{Cost in USD} \times \text{Exchange Rate}
\]
\[
\text{Cost in CNY} = 10.99 \times 6.4651
\]
5. Calculate the result:
\[
10.99 \times 6.4651 = 71.05144899999999
\]
Therefore, the cost of the decorative mug in Chinese yuan (CNY) is approximately \( 71.05 \) yuan, rounded to two decimal places.
In summary, if Everleigh buys the decorative mug for \$[/tex]10.99 USD, it would cost her approximately [tex]\( 71.05 \)[/tex] Chinese yuan (CNY) after conversion.
