Before boarding her flight to Zurich, Switzerland, Kelsey purchased CHF1,300 from her bank when the exchange rate
Fantastic news! We've Found the answer you've been seeking!
Question:
Before boarding her flight to Zurich, Switzerland, Kelsey purchased CHF1,300 from her bank when the exchange rate was C$1 = CHF0.977. However, Kelsey had to cancel the trip. Kelsey returned to the bank to convert the Swiss currency back into Canadian dollars.
If the exchange rate changed to C$1 = CHF0.9854, how many Canadian dollars would Kelsey have lost in these transactions? Assume the bank has a 0.65% commission on both the sale and the purchase of the funds.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: