WIX CODE: How to create dropdown menu input that changes an html element?

How to create a dropdown input that when clicked, it changes an element of a webpage, like a text for example? To explain exactly what I want, let’s supose that I added a dropdown input on my page, and I also added an element #text1 called “$ 60,00”.

And this input has a place holder text called “Select” with 3 options:
Option 1 - 500 (When clicked changes #text1 to $ 60,00)
Option 2 - 1000 (When clicked changes #text1 to $ 80,00)
Option 3 - 1500 (When clicked changes #text1 to $ 100,00)

So, the question is: How to make #dropdown1 make changes on #text1?

Set the text in the dropdown’s “onChange” handler.

See Dropdown - Velo API Reference - Wix.com and https://www.wix.com/code/reference/$w.Text.html#text