How many Canadian dollars will you have to pay to purchase US$4,000? b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction
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A bank in Toronto charges 2.3% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.1152.
a. How many Canadian dollars will you have to pay to purchase US$4,000?
b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction?
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- A bank in Mississauga has a buying rate of ¥1 = C$0.01275. If the exchange rate is ¥1 = C$0.01315, calculate the rate of commission that the bank charges to buy currencies. Round to two decimal placesA bank in Toronto charges 3.25% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.3211. a. How many Canadian dollars will you have to pay to purchase US$1,460? Round to the nearest cent b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction? Round to the nearest centA 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? 2. 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?
- 1 A bank in London, Ontario has a buying rate of CHF 1 = C$1.3491. If the exchange rate is CHF 1 = C$1.3785, calculate the rate of commission that the bank charges. 2 Jonathan found US$130 in his attic and sold it to a bank that charged him a commission of 0.35%. How much did he receive from the bank? Assume that the exchange rate was C$1 = US$0.75.1. 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?A bank dealing in foreign currency tells you that the foreign currency will buy you $.80 US dollars. The bank has given you a. a direct quote. b. an indirect quote. c. the official (fixed) rate. d. a forward rate.
- Suppose a bank provides the following quotes: Bid 1.2567 CAD per U.S. Dollar and Ask 1.2682 CAD per U.S. Dollar Suppose you would like to buy Canadian Dollars and sell U.S. Dollars. Given the quotes above, what rate would you receive? Group of answer choices 0.0115 CAD per USD 2.5249 CAD per USD 1.2682 CAD per USD 1.2567 CAD per USDA U.S. bank converted $6 million to Swiss francs to make a Swiss franc loan to a valued corporate customer when the exchange rate was 1.153 francs per dollar. The borrower agreed to repay the principal plus 5.2 percent interest in one year. The borrower repaid Swiss francs at loan maturity and when the loan was repaid the exchange rate was 1.423 francs per dollar. What was the bank's dollar rate of return? (Do not round intermediate calculations. Round your answers to 3 decimal places. (e.g., 32.165))A U.S. bank converted $1 million to Swiss francs to make a Swiss franc loan to a valued corporate customer when the exchange rate was 1.2 francs per dollar. The borrower agreed to repay the principal plus 6 percent interest in one year. The borrower repaid Swiss francs at loan maturity and when the loan was repaid the exchange rate was 1.25 francs per dollar. What was the bank's dollar rate of return? 1.53% 1.76% 1.85% 2.01% On July 15, 2022, you convert 480,000 U.S. dollars to Japanese yen in the spot foreign exchange market at the spot rate of ¥104.91/$ and purchase a six-month forward contract to convert yen into dollars at the forward rate of $0.0095320/¥. How much will you receive in U.S. dollars at the end of six months? $497,668 $502,388 $458,773 $480,001
- Amazing Corporation recorded £1,000,000(pound) in Accounts Receivables for sales to a customer in the U.K. If the company recorded a foreign currency exchange gain on its receivables, it means that the Pound was ___________________ (one word - depreciated or appreciatedA U.S. bank converted $1 million to Swiss francs to make a Swiss franc loan to a valued corporate customer when the exchange rate was 1.2 francs per dollar. The borrower agreed to repay the principal plus 6 percent interest in one year. The borrower repaid Swiss francs at loan maturity and when the loan was repaid the exchange rate was 1.25 francs per dollar. What was the bank's dollar rate of return? 1.53% 1.76% 1.85% 2.01%Below is the information regarding U.S. and Canadian annualized interest rates: Currency Lending Rate Borrowing Rate U.S Dollar ($) 6.73% 7.20% Euro (€) 6.80% 7.28% Note: Spot rate of Euro is $1.13 An international bank can borrow either 20 million U.S. dollars or 20 million euro. The bank expects the spot rate of the euro is $1.10 in 90 days, which is equal to ______ profit. A. $583,800 B. $588,200 C. $584,245 D. $579,845
