Question

A family uses 12,986.64 Swiss francs per year to pay a mortgage that requires US dollars. Approximately how much, in US dollars, does the family spend per month on the mortgage?

1 US dollar = 0.9019 Swiss francs

1 Swiss franc = 1.11 US dollar

$975
$1,080
$1,200
$1,440

Answer 1

975

Answer 2

Yearly, the family pays 12,986.64 Francs.

Let us convert this to US Dollars.
We know that 1.00 Franc = 1.11 US Dollar,
so 1.00 x 12,986.64 Francs = 1.11 x 12,986.64 US Dollars.
This works out to be 14415.1704 US Dollars.
Monthly, this is 14415.1704 / 12 = 1201.2642 US Dollars,
so approximately $1,200.