Meghan purchased US$11,000 from a bank in America, which charged her acommission of 0.6%, and sold the US dollars to a bank in Canada, which chargedher a 0.24% commission. How much money did she lose or gain? Assume thatthe exchange rate was C$1 = US$0.8958.C$Round to the nearest centAnswer as positive is there was a gain, and negative if there was a loss

Exchange rates are the rates at which one country's currency can be exchanged with that of another…

Answered: Meghan purchased US$11,000 from a bank…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Robert purchased US$10,000 from a bank in America, which charged her a commission of 0.8%, and sold the US dollars to a bank in Canada, which charged her a 0.24% commission. How much money did she lose or gain? Assume that the exchange rate was C$1 = US$0.8993. C$ Round to the nearest cent Answer as positive is there was a gain, and negative if there was a loss 0.00
Hui purchased US$11,000 from a bank in America, which charged him a commission of 0.6%, 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$0.8958. C$ Round to the nearest cent Answer as positive is there was a gain, and negative if there was a loss 1,279.53 X
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.
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?
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$1 = CHF0.9883, how many Canadian dollars would Amber have lost in these transactions? Assume the bank has a 2.00% commission on both the sale and the purchase of the funds. C Round to the nearest cent
The Bank of France sells U.S. dollars ($) 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?
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 sure
Paula has $100,000. The following quotations are available to her for US dollars ($), Euros (€) and Yen (¥). She may either buy or sell at the stated rates: – U.S. Bank: $1.10/€ – French Bank: €0.0098/¥ – Japanese Bank: ¥90.40/$ What is Paula’s approximate arbitrage profit assuming a triangle arbitrage is possible?
Mr. X received a letter from Mr. Y, his brother, to withdraw $1,000 from the PNB(philippine ational bank). The teller of PNB, however, issued $10,000 to Mr. X in which the latter took the entire money and spent the $9,000 immediately. Assuming that the exchange rate is P50 per $1, how much is the reportable income received by error by Mr. X? P50,000 P450,000 P500,000 P0
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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.

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