Buying Pizza With Pesos

A pizza place in the Valley of the Sun is allowing customers to pay using pesos. It has become a topic of discussion on many of the AzCentral.com "Plugged In" blogs. This BAB was created due to a posting that contained multiple currency exchange ratios.

   "The Peso is worth about 9 cents currently and one could 
    almost bet that they are accepting them at the money changer 
    rate of about 8.5 cents and making up for the handling. "

According to Finance.Yahoo.com the Mexican Peso to U.S. Dollar Exchange Rate was 1:0.09121 on 10 January 2007.

    "The Euro on the other hand is worth about $1.30 and they don't 
     want US dollars over there as they are to the Euro what the 
     peso is to you."

According to Finance.Yahoo.com the Euro to U.S. Dollar Exchange Rate was 1:1.2936 on 10 January 2007.

   "One fact though the peso is stronger against the dollar 
    than the dollar against the Euro."

Making sense of this last item is left as an exercise.

Exercises

For the following exercises, use the exchange rates obtained from Finance.Yahoo.com.

  1. A $10 pizza would cost _______ MNX.

  2. A $10 pizza would cost _______ Euro.

  3. [skip this exercise--to be completed] On 11 January 2007, one MNX was worth 0.07005 EUR and 0.0913 USD, respectively. In other words, one MNX buys more USD than it does EUR. Converting MNX to USD... 1 MNX becomes 0.07005 EUR and 0.07005 EUR becomes 0.0906 USD.


Creator: Gerald D. Thurman [gthurman@gmail.com]
Created: 10 January 2007

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