Need help! Horace is seeking to exchange money in preparation for his trip to Uruguay. He will need 5,000 Uruguayan pesos, and the exchange rate between the US dollar and the Uruguayan peso is 1:19.924. The currency exchange agent Horace is using requires that a 5% fee be paid once the currency conversion has occurred. Taking the fee into account, how many US dollars will it take Horace to get 5,000 pesos? Round to the nearest cent.

A. $274.62

B. $249.05

C. $250.95

D. $238.41

Its strange because i got the answer of $263.50 but you don't have that option. Total Uruguayan pesos to buy

Explanation:

Total Uruguayan pesos= 5,000 Uruguayan pesos + (5,000 Uruguayan pesos multiplied by  0.05)

Total Uruguayan pesos=5,000 Uruguayan pesos + 250 Uruguayan pesos

Total Uruguayan pesos = 5,250 Uruguayan pesos

Now determine how many US dollars will it take Horace to get 5,000 pesos

US dollars needed = (5,250 Ur.$)/(19.924 Ur.$/U$S)

US dollars needed =$263,50

The amount of USD for Horace to get 5,000 pesos will be $263.50

Maybe Try this for yourself, I apologize I couldn't get a listed number, I also may have made a mistake.

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