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1) A bank in Mississauga has a buying rate of 1 = C$0.01206. If the exchange rate is 1 = C$0.01236, calculate the rate of

1) A bank in Mississauga has a buying rate of 1 = C$0.01206. If the exchange rate is 1 = C$0.01236, calculate the rate of commission that the bank charges to buy currencies.

Round to two decimal places

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