Question
Disgusted by the price of new cars, Mike decided to build his own. He paid $5,000 USD for steel he sourced in Pennsylvania when the
Disgusted by the price of new cars, Mike decided to build his own. He paid $5,000 USD for steel he sourced in Pennsylvania when the CAD:USD rate was 0.81. He then bought $750 CAD worth of bolts from Home Hardware in Deer Lake. After bolting together the steel, he had some steel left over which he sold back to his supplier in Pennsylvania for $1,000 USD. The CAD:USD rate then was 0.79. Mike then bought a set of tires on kijiji for $500 CAD. He found an engine in Maine for $3,500 USD when the exchange rate was 0.78 (CAD:USD). After doing all this, Mike didn't like the car so he sold it to a guy in Florida for $9,000 USD. The exchange rate at that time was 0.80 (CAD:USD). How much, in Canadian dollars, did Mike make off the car?
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