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.

Answer rating: 100% (QA)

To calculate the loss Kelsey incurred in these transactions we need to consider both the exchange ra... View the full answer