Question

The Ruiz family is exchanging euros for US dollars. The exchange rate is 1 euro equals 1.35261 USD. Since the Ruiz family knows that USD are stated to the nearest hundredth of a dollar, they used the conversion ratio. Will this give the Ruiz family the correct exchange? Explain.

Answer 1

no because when you are dealing with money you are never supposed to round up or down you are supposed to be exact

Answer 2

No, by rounding the conversion ratio, the Ruiz family will not be getting the most accurate answer. Using the more accurate conversion ratio will give an answer with more than 2 decimal places so the answer can accurately be rounded after the conversion.

Explanation:

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