Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Paige went to Florida and purchased a laptop for US$940.00 by converting her Canadian money at an exchange rate of C$1 = US$0.9338. After a

Paige went to Florida and purchased a laptop for US$940.00 by converting her Canadian money at an exchange rate of C$1 = US$0.9338. After a month, she returned to Vancouver but the exchange rate fluctuated and was C$1 = US$0.9949 on the day of her return. At the border, she paid customs duty of 15.00% and HST of 13.00% on the purchase price of the laptop, based on that day's exchange rate. 


Calculate the total amount she spent on the laptop in Canadian dollars. HST is charged on the price of the laptop after applying the duty.

Step by Step Solution

3.42 Rating (149 Votes )

There are 3 Steps involved in it

Step: 1

First we need to find out how many US dollars Paige got for her Canadian dollar She pa... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Smith and Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

15th Edition

1285141903, 1285141903, 9781285141909, 978-0538473637

More Books

Students also viewed these Accounting questions

Question

10. Where does the optic nerve start and where does it end?

Answered: 1 week ago

Question

17. What is an example of an unconscious visually guided behavior?

Answered: 1 week ago