Word Problem \( 3-62 \) (Static) [LU 3-2 (2)] A Chevy Volt costs \( \$ 30,000 \) in the United States. Use the exchange rate table what would it cost in Canada?. Note: Round your answer to the nearest cent. Cost in canadian dollars

To determine the cost of a Chevy Volt in Canadian dollars (CAD) based on its cost in U.S. dollars (USD), you'll need to use the exchange rate provided in your exchange rate table. Here's a step-by-step guide to help you through the process: ### **Step 1: Identify the Exchange Rate** Find the current exchange rate from USD to CAD in your exchange rate table. The exchange rate tells you how much 1 USD is worth in CAD. *For example purposes, let's assume the exchange rate is:* \[ 1 \, \text{USD} = 1.25 \, \text{CAD} \] ### **Step 2: Calculate the Cost in CAD** Use the following formula to convert USD to CAD: \[ \text{Cost in CAD} = \text{Cost in USD} \times \text{Exchange Rate} \] **Given:** - Cost in USD = \$30,000 - Exchange Rate = 1.25 CAD/USD \[ \text{Cost in CAD} = \$30,000 \times 1.25 = \$37,500 \] ### **Step 3: Round to the Nearest Cent** In this example, the result is already at a whole number, so no additional rounding is necessary. However, if your calculation results in more decimal places, make sure to round to the nearest cent (two decimal places). ### **Final Answer:** \[ \$30,000 \, \text{USD} = \$37,500.00 \, \text{CAD} \] **Please Note:** The actual cost in Canadian dollars will depend on the current exchange rate provided in your exchange rate table. Make sure to use the exact rate given to you for an accurate calculation. --- **Quick Reference Formula:** \[ \text{Cost in CAD} = \text{Cost in USD} \times \text{Exchange Rate (CAD per USD)} \] **Example Calculation:** \[ \$30,000 \times 1.25 = \$37,500.00 \, \text{CAD} \] If you provide the specific exchange rate from your table, I can help you calculate the exact cost!