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

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 14E
icon
Related questions
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
 
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

Blurred answer