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About Harry Hayfield
Expertise
I`ve been interested in investing in the stock market since December 1990 and in recent months have been an avid viewer of Bloomberg and CNBC Television.

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13 years of personal investing

 
   

You are here:  Experts > Real Estate > Banking: U.S. > Financial Reports > converting money

Financial Reports - converting money


Expert: Harry Hayfield - 12/14/2005

Question
hello, im wanting to know the currency convertion between     us   to   australia

$3.41  in usd      =     $         in Australian currency

and $1.98   in usd    =       $          in aus
and $2.20   in usd    =       $          in aus
and $2.42   in usd    =       $          in aus
and $1.32   in usd    =       $          in aus
and $1.25   in usd    =       $          in aus

Thank you so much and i need to learn how to use my currency converter but im not too sure how to use it, where the decimal point goes, stuff like that.

Thank you again

Leanne

Answer
Those look rather like homework questions to me, so what I will do is explain the theory rather than solve the listed examples:

As of 8.45pm AEDT on December 14th 2005, US$1 = AU$1.3227.

Therefore to find what $15 is in Australian currency you do the following:

You know what US$1 is in Australian currency, you multiply the conversion rate by the number of US dollars you are converting, so the sum would be 15 x 1.3227 which in this case equals AU$19.8387. Now clearly no one is going to bother with 1/10th of a cent so the correct answer is:

US$15 = AU$ 19.84 (rounding up to the nearest whole Australian cent)

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