Before boarding her flight to Zurich, Switzerland, Mary purchased CHF850 from her bank when the exchange...

  

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Before boarding her flight to Zurich, Switzerland, Mary purchased CHF850 from her bank when the exchange rate was C$1 = CHF0.9651. However, Mary had to cancel the trip. Mary returned to the bank to convert the Swiss currency back into Canadian dollars. If the exchange rate changed to C$1 = CHF0.9898, how many Canadian dollars would Mary have lost in these transactions? Assume the bank has a 1.60% commission on both the sale and the purchase of the funds. C $0.00 Round to the nearest cent Before boarding her flight to Zurich, Switzerland, Mary purchased CHF850 from her bank when the exchange rate was C$1 = CHF0.9651. However, Mary had to cancel the trip. Mary returned to the bank to convert the Swiss currency back into Canadian dollars. If the exchange rate changed to C$1 = CHF0.9898, how many Canadian dollars would Mary have lost in these transactions? Assume the bank has a 1.60% commission on both the sale and the purchase of the funds. C $0.00 Round to the nearest cent

Answer rating: 100% (QA)

First lets calculate the amount of Canadian dollars Mary had before she went to Sw... View the full answer