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MBF - MATH FINANCE QUESTION - PLZ HIGHLIGHT THE ASNWERS 1. A bank in Toronto charges 3.25% commission to buy and sell currencies. Assume that

MBF - MATH FINANCE QUESTION - PLZ HIGHLIGHT THE ASNWERS

1. A bank in Toronto charges 3.25% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.3303.

a. How many Canadian dollars will you have to pay to purchase US$1,440?

Round to the nearest cent

b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction?

Round to the nearest cent

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