Daria, a student at a college in Toronto, decided to travel to Switzerland and purchased CHF750 from

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Daria, a student at a college in Toronto, decided to travel to Switzerland and purchased CHF750 from her bank. However, two weeks later she cancelled her trip and converted the Swiss francs back to Canadian dollars at the same bank. Did she lose any money by converting the money twice? If so, how much did she lose? Assume CSI = CHF0.7549 and that the bank charged a commission of 0.25% to sell and buy currencies.

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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