Question

Albania is an Eastern European country that uses a currency called the Albanian Lek (ALL). Right now, $1 (1 USD) exchanges for 106.40 ALL. How many dollars (USD) could you exchange for 1,000,000 ALL? Answer: 1,000,000 ALL = _______ USD. Round your answer to two (2) decimal places. *

Answer 1

$9398.50

Explanation:

Given

`\$1 = 106.40\ ALL`

Required

Equivalent of 1,000,000 ALL

We have:

`\$1 = 106.40\ ALL`

and

`\$x = 1000000\ ALL`

Cross Multiply

`x * 106.40 = 1 * 1000000`

`106.40x = 1000000`

Solve for x

`x = 1000000/106.4`

`x = \$9398.50` -- Approximated