Answer:
The conversion rate with 2 decimal places is $1.25
Step-by-step explanation:
We know that €4 is $5 as it is given in the problem as an estimation...
So we can use the rule of 3, to know the conversion rate between the two currencys.
We already know that €4 is $5, so we pose that €1 is $x
From this rule, we have that
[tex]x=\frac{1*5}{4}=\frac{5}{4}[/tex]
and
[tex]\frac{5}{4}=1.25[/tex]
and $1.25 for every € is the conversion rate.
