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Bontle dancing club received a donation of 500 GBP from a non- profit organization. The table below shows the bank exchange rate and bank

Bontle dancing club received a donation of 500 GBP from a non- profit organization. The table below shows the bank exchange rate and bank charges at the time of exchange. EXCHANGE RATES & BANK CHARGES CURRENCY 1 BUY R17.268 SELL R18.087 Bank charges 3% of the Rand value of the amount exchanged. Use the table above to answer questions that follow: a) Identify the exchange rate the bank will use to exchange the club's 500. b) Calculate the rand amount the club will receive from 500.

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