1. A bank in Mississauga has a buying rate of 1 = C$0.01175. If the exchange rate is 1 = C$0.01195, calculate the rate of commission that the bank charges to buy currencies.

2. Catherine found US$130 in her attic and sold it to a bank that charged her a commission of 0.35%. How much did she receive from the bank? Assume that the exchange rate was C$1 = US$0.76.

3.A bank in Toronto charges 3.25% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.3741. a. How many Canadian dollars will you have to pay to purchase US$1,475? b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction?

4.A clothing distributor in Ajax, Ontario sells a designer suit for $1,515 less a discount of 35.00%. Another distributor in Oshawa, Ontario sells a similar designer suit for $1,430 less a discount of 22.00%.

a. Which distributor offers the cheaper price for the suit?

b. What further trade discount should the distributor with the more expensive suit offer to match the price of the suit offered by the other distributor?

5.Skis are listed by a manufacturer for $900, less trade discounts of 35% and 17%. What further rate of discount should be given to bring the net price to $446?

6.Marissa paid $100.81 for a printer that she purchased after receiving trade discounts of 13%, 6%, and 3%. a. What was the list price of the printer?

b. What single equivalent trade discount rate represents the series of discounts received?