If you have 700,000 pennies, how many dollars do you have?

• A. \$700
• B. \$70,000
• C. \$7,000
• D. \$70

Answer: (C)

Verified step by step guidance

1. Step 1: Understand the relationship between pennies and dollars. There are 100 pennies in one dollar.
2. Step 2: To convert pennies to dollars, divide the total number of pennies by 100. This is because 100 pennies equal 1 dollar.
3. Step 3: Write the formula for conversion: \( \text{Dollars} = \frac{\text{Total Pennies}}{100} \).
4. Step 4: Substitute the given value of pennies (700,000) into the formula: \( \text{Dollars} = \frac{700,000}{100} \).
5. Step 5: Perform the division to find the number of dollars. This will give you the final answer.