Warm Up What do exchange rates tell us?. Thursday, October 8, 2015 Objective: Students will be able to convert currencies from different countries. Purpose:

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Presentation transcript:

Warm Up What do exchange rates tell us?

Thursday, October 8, 2015 Objective: Students will be able to convert currencies from different countries. Purpose: When traveling to other countries or buying products from other countries, knowing prices in US dollars will make it much easier to manage your money.

Reading an Exchange Rate Table When Using Formula 1 Country A Country B

Determining the rate of exchange Formula 1: Currency value in Country A Currency value Exchange Rate CA in Country B

Reading an Exchange Rate Table When Using Formula 2 Country B Country A

Determining the rate of exchange Formula 2: Currency value in Country A Exchange Rate CB in Country B

Example 1 If a hotel room in Mexico costs 400 pesos per night and the exchange rate is 13.5 pesos per dollar, how much does a night of hotel cost in US dollars?

Example 2 Imagine you are going to rent a car in Germany. The rate of renting a car is 25 Euros per day. The exchange rate is 1.26 US Dollars per 1 Euro. Assuming you have $150, how many Dollars would you have left if you rented a car for 4 days?

Exchange Rates Worksheet 1.Please complete the worksheet on exchange rates by yourself. We will do number 1 together. 2.Once you have finished all of the problems, please turn it in to Mr. Greenfield. 3.If you do not understand something on the worksheet, raise your hand and Mr. Greenfield will come help you.