a. How many Canadian dollars will you have to pay to purchase US$1500? b. How much commission
Question:
a. How many Canadian dollars will you have to pay to purchase US$1500?
b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction? A bank in London, Ontario charges 2.25% commission to buy and sell currencies. Assume that the current exchange rate is US$1 C$1.3241.
a. How many Canadian dollars will you receive from the bank if you sell US$1375?
b. How much commission will you pay the bank for this transaction?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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