Robert purchased US$15,000 from a bank in America, which charged him a commission of 0.9%, and...

 

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Robert purchased US$15,000 from a bank in America, which charged him a commission of 0.9%, and sold the US dollars to a bank in Canada, which charged him a 0.24% commission. How much money did he lose or gain? Assume that the exchange rate was C$1 = US$0.8924. C$ 0.00 Round to the nearest cent Answer as positive is there was a gain, and negative if there was a loss Robert purchased US$15,000 from a bank in America, which charged him a commission of 0.9%, and sold the US dollars to a bank in Canada, which charged him a 0.24% commission. How much money did he lose or gain? Assume that the exchange rate was C$1 = US$0.8924. C$ 0.00 Round to the nearest cent Answer as positive is there was a gain, and negative if there was a loss

Answer rating: 100% (QA)

To calculate the amount of money Robert lost or gained we need to consider ... View the full answer