Subjects finance

Currency Conversion 4059A6

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1. **State the problem:** Convert the price of one phone case from Chinese Yuan (¥) to US dollars ($) using the exchange rate $1 = ¥7.17$. 2. **Formula used:** To convert from Yuan to dollars, use the formula: $$\text{Price in dollars} = \frac{\text{Price in Yuan}}{\text{Exchange rate}}$$ 3. **Given values:** - Price in Yuan = ¥28 - Exchange rate = ¥7.17 per 1 dollar 4. **Calculate the price in dollars:** $$\text{Price in dollars} = \frac{28}{7.17}$$ 5. **Simplify the fraction:** $$\text{Price in dollars} = \frac{\cancel{28}}{\cancel{7.17}} \approx 3.905$$ 6. **Round to the nearest cent:** $$3.905 \approx 3.91$$ **Final answer:** The price of each phone case is approximately $3.91$ dollars.