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Simplify by adding, subtracting, multiplying, or dividing as indicated: \newline$247\$2-47

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Q. Simplify by adding, subtracting, multiplying, or dividing as indicated: \newline$247\$2-47
  1. Convert to cents: Convert dollars to cents to simplify calculation; $2\$2 equals 200200 cents.\newlineCalculation: $2=200\$2 = 200 cents
  2. Subtract from total: Subtract 4747 cents from 200200 cents.\newlineCalculation: 200200 cents - 4747 cents == 153153 cents
  3. Convert back to dollars: Convert the result back to dollars and cents.\newlineCalculation: 153153 cents = $1.53\$1.53