The average price for regular gasoline in Toronto is $1.35 per liter, or L (in Canadian dollars, as of
April 2014).
Part A: The exchange rate between the US and Canada varies continuously. Assume that, in April
2014, the rate was US$ 0.92 for each Canadian dollar. Determine the cost in U.S. dollars (US$) for 1 L
of gasoline in Toronto. Round to the nearest cent.
Hint
$1.35 Canadian = US$
Part B: There are 3.78541 L in 1 gallon (gal). Determine the cost in U.S. dollars (US$) for 1 gal of
gasoline in Toronto. Round to the nearest cent.
Hint
1 gal costs US$

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topeadeniran2 topeadeniran2 · Answer 1 · 2022-09-22T18:51:35+02:00

a. $1.35 Canadian dollar will be 124 cents.

b. cost in U.S. dollars (US$) for 1 gal of gasoline in Toronto will be $5.11.

A. It should be noted that the rate was US$ 0.92 for each Canadian dollar.

Therefore, $1.35 Canadian dollar will be:

= 1.35 × 0.92

= $1.24 = 124 cents.

B. The cost in U.S. dollars (US$) for 1 gal of gasoline in Toronto will be:

= 3.78541 × 1.35

= $5.11

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