Question
A bank in Mississauga has a buying rate of 1 yuan = 0.01147 Canadian dollars. If the exchange rate is 1 yuan = 0.01197 Canadian
A bank in Mississauga has a buying rate of 1 yuan = 0.01147 Canadian dollars. If the exchange rate is 1 yuan = 0.01197 Canadian dollars, calculate the rate of commission that the bank charges to buy currencies. Answer as a percentage and round to two decimal places.
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Entrepreneurial Finance
Authors: Philip J. Adelman, Alan M. Marks
4th Edition
0132434792, 9780132434799
