Product Price Not Showing Correctly

So I am new to Open Cart but have picked it pretty quickly.

I have read through some post but not found my answer for the problem I am having.

So i go into the Admin and create a new product. Give it a Price of $5. The tax is turned off. I save it, then when i got to the public side, it is showing $8.01. Its adding $3.01 to my price fore my product. I change the price to $.50 and it makes it $.80.

Am i missing something? Why is the price larger then what i input into the admin for the product price?

You need to set your default currency and update the rates

I have set my default currency to the dollar. Where do you set the rate that you speak of?

Ok i set the rate to 1 and it is working.