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Before boarding her flight to Zurich, Switzerland, Kristen purchased CHF1,400 from her bank when the exchange rate was C$1 = CHF0.9761. However, an unexpected last-minute
Before boarding her flight to Zurich, Switzerland, Kristen purchased CHF1,400 from her bank when the exchange rate was C$1 = CHF0.9761. However, an unexpected last-minute came up so Kristen had to cancel the trip. Kristen returned to the bank to convert the Swiss currency back into Canadian dollars. If the exchange rate changed to C$1 = CHF0.9923, how many Canadian dollars would Kristen have lost in these transactions? Assume the bank has a 1.60% commission on both the sale and the purchase of the funds.
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