Answer:
We know that 1 USD equals 1.31 CAD. If Mitchell exchanges 150 USD, how much CAD would be?
[tex]150 \ USD\frac{1.31 \ CAD}{1 \ USD}=196.5 \ CAD[/tex]
Then, he spends 20 CAD, so he return to the US with 176.50 CAD. How much USD would he have?
[tex]176.50 \ CAD \frac{1 \ USD}{1.31 \ CAD}= 134.73\ USD[/tex]
Therefore, Mitchell would have 134.70 USD.
Going by current exchange rates, Mitchell has $134.13 dollars remaining.
The current exchange rate of Canadian dollars to US dollars is:
CAD $ 1.26 : 1 USD
When Mitchell first exchanged the USD to CAD$, it became:
= 150 x 1.26
= CAD$ 189
He then spends CAD$ 20 which leaves him with:
= 189 - 20
= CAD$ 169
He then exchanges this back to US$:
= 169 / 1.26
= US$ 134.13
Mitchell has US$ 134.13 remaining.
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