A bank in Toronto charges 2.7% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.1157. a. How many Canadian dollars will you have to pay to purchase US$4,500? Round to the nearest cent b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction? Round to the nearest cent

A bank in Toronto charges 2.7% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.1157. a. How many Canadian dollars will you have to pay to purchase US$4,500? Round to the nearest cent b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction? Round to the nearest cent

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

A bank in Toronto charges 2.7% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.1157.

a. How many Canadian dollars will you have to pay to purchase US$4,500?

Round to the nearest cent

b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction?

Round to the nearest cent

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