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Jim is asked to figure out how many Euros he will get if he converts $1,000,000 into Euros. The exchange rate is $1.50/EUR. Jim takes

Jim is asked to figure out how many Euros he will get if he converts $1,000,000 into Euros. The exchange rate is $1.50/EUR.

Jim takes the inverse of $1.5/EUR and writes down EUR.67/$. Jim then multiplies and gets

$1,000,000 .67$=670,000

Whats wrong with Jims calculation? How should Jim have done this calculation?

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