Before boarding her flight to Zurich, Switzerland, Amber purchased CHF1,100 from her bank when the exchange rate was C$1 CHF0.9733. However, Amber had to cancel the trip. Amber returned to the bank to convert the Swiss currency back into Canadian dollars. If the exchange rate changed to C$1 CHF0.9883, how many Canadian dollars would Amber have lost in these transactions? Assume the bank has a 2.00% commission on both the sale and the purchase of the funds. C Round to the nearest cent
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- Before boarding his flight to Zurich, Switzerland, Ian purchased CHF900 from his bank when the exchange rate was C$1 = CHF0.9753. However, Ian had to cancel the trip. Ian returned to the bank to convert the Swiss currency back into Canadian dollars. If the exchange rate changed to C$1 = CHF0.984, how many Canadian dollars would Ian have lost in these transactions? Assume the bank has a 1.00% commission on both the sale and the purchase of the funds. C Round to the nearest cent Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sureThe Bank of France sells U.S. dollars ($) at a rate of ($1.40)/(€1) and buys U.S. dollars at a rate of ($1.80)/(€1). At the beginning of a trip, Sandra exchanged $420 to get €233.33. At the end of the trip, she is left with €36, so she exchanges the €36 back to U.S. dollars. How many U.S. dollars will Sandra receive in exchange?Matthew purchased US$9,000 from a bank in America, which charged her a commission of 0.6%, and sold the US dollars to a bank in Canada, which charged her a 0.25% commission. How much money did she lose or gain? Assume that the exchange rate was C$1 = US$0.8996. Please don't use Excel format.
- 3 On April 1, 2007, Shannon, a US bank, made a one year loan (asset to Shannon) of 200,000 swiss francs to Scott Co. The dollar value of the loan at various dates was as follows: April 1, 2007: $100,000. December 31, 2007: $ 115,000 April 30, 2007: $110,000 April 1, 2008 : $ 97,000 A What amount of foreign exchange gain or loss should be recorded in April 2007 for Shannon B What amount of foreign exchange gain or loss should be recorded in full year 2007 for Shannon C What amount of foreign exchange gain or loss should be included in Shannon’s 2008 income statement.An investor has $2m to invest and has the option of placing it in a US bank account paying 2% annually, or in a German bank, where the annual rate of interest is only 2.5%. If the current exchange rate for the Euro is given as $1.4250, at what 1-year Dollar-Euro forward rate of exchange would the investor get the same return from investing in the US as he/she would by investing in Germany? Please show your work.Sonipto needs to purchase Pakistani currency (PAK). He takes C$7,500 to the bank and leaves the bank with NOK 49,419.23. If the exchange rate is PAK 6.9511 per C$, determine the commission rate (rounded to two decimals) charged by the bank.
- 1. Emily found US$100 in his attic and sold it to a bank that charged him a commission of 0.60%. How much did he receive from the bank? Assume that the exchange rate was C$1 = US$0.77. 2. A bank in Toronto charges 3.25% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.3533. a. How many Canadian dollars will you have to pay to purchase US$1,405? Round to the nearest cent b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction? 3. Skis are listed by a manufacturer for $850, less trade discounts of 30% and 18%. What further rate of discount should be given to bring the net price to $443?Angus visits the U.S. using a pre-paid and all-inclusive package. He decides, however, to get some pocket money. For this reason, he buys $110 using the exchange rate £1=$1.23. Angus does not spend the pocket money during his trip abroad. When he comes back to the U.K., he can either keep in his wallet $110 or convert into sterling using the exchange rate $1=£0.89. What should Angus do? Angus visits the U.S. using a pre-paid and all-inclusive package. He decides, however, to get some pocket money. For this reason, he buys $110 using the exchange rate £1=$1.23. Angus does not spend the pocket money during his trip abroad. When he comes back to the U.K., he can either keep in his wallet $110 or convert into sterling using the exchange rate $1=£0.89. What should Angus do? Keep $110 in his wallet to avoid making a loss. Convert $110 into sterling. In this case, he will make a profit of £7.77. Convert $110 into sterling. In this case, he will make a profit of £8.47. Convert $110 into…Satya has 400 Euros (the European Union currency) and desires Indian Rupees. Using the foreign exchange data in the above table, which amount comes closest to the amount of he can exchange them for? A. Approximately 26,398 Rupees B. Approximately 6.06 Rupees C. Approximately 15,003 Rupees D. Approximately 10,670 Rupees E. Approximately 6,599 Rupees
- an investor has $2m to invest and has the option of placing it in a us bank account paying 2% annually, or in a german bank, where the annual rate of interest is only 2.5%. if the current exchange rate for the euro is given as $1.4250, at what 1-year dollar-euro forward rate of exchange would the investor get the same return from investing in the us as he/she would by investing in germany?Assume you are in India and borrowed 800,000 Rs from one of your friends who lives in Australia. Suppose the spot exchange rate at the time borrowing was Rs63/$ and you promised to repay the loan after six months with a forward currency rate of Rs68/$ without any interest. Required: b) If you are planning to settle the loan amount in dollars (the amount calculated in a.), what is the amount of money in rupees (Rs) that you need to pay to an authorised currency exchanger in India after six months with a Rs 500 administration fee? c) What is the total cost of your loan and present your answer as a rate of interest per annumAssume you are in India and borrowed 800,000 Rs from one of your friends who lives in Australia. Suppose the spot exchange rate at the time borrowing was Rs63/$ and you promised to repay the loan after six months with a forward currency rate of Rs68/$ without any interest. Required: b) If you are planning to settle the loan amount in dollars (the amount calculated in a.), what is the amount of money in rupees (Rs) that you need to pay to an authorised currency exchanger in India after six months with a Rs 500 administration fee?