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A latte in the U.S. costs $3.00. An identical latte in Country X costs 60 casatas. The implied exchange rate between the two currencies is _ casatas per dollar. At this rate of exchange a good that costs $30 in the U.S. should be expected to cost casatas in Country X.:

Answer :

lyndalau86 lyndalau86

Today at 4:43 PM

Answer:

The exchange rate would be 20 casatas per 1 dollar.

A good that costs 30 dollars should be expected to cost 600 casatas.

Explanation:

We can establish a ratio between these two currencies (where dollars is the numerator and casatas the denominator):

[tex]\frac{3}{60}[/tex]

If we divide both the numerator and denominator by three we get:

[tex]\frac{1}{20}[/tex]

Therefore, the exchange rate would be 20 casatas per 1 dollar.

At this rate of exchange a good that costs $30 in the U.S. should be expected to cost:

To solve this we can make two ratios and solve using a rule of three:

[tex]\frac{1}{20}=\frac{30}{x}[/tex]

Now we will solve for x: [tex]x = (20)(30)/1= 600[/tex]

Therefore it should be expected to cost 600 casatas.

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