Note The Canadian dollar is indicated as CAD You are going o

(Note: The Canadian dollar is indicated as CAD.) You are going on vacation in Prince Edward Island in Canada. The price of gas in Charlottetown is 1.12 CAD/liter. There are 3.785 liters/gallon. The exchange rate is $0.80/1CAD.

What is the price of gas in U.S. dollars per gallon? The answer is rounded to the nearest penny.

Solution

The price of gas in U.S dollars per gal lon = 3.785 liters/gallon*1.12 CAD/liters*0.80 $/1 CAD = 3.39136 U.S Dollars/ gallons.