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Nora
Nora asked in Science & MathematicsMathematics · 8 years ago

$400 American (USD) for a trip...currency exchange used is $1 USD = $1.115 CAD and the bank charges 1.35%...?

If you want $400 American (USD) for a trip, what amount in Canadian (CAD) funds do you have to pay the bank if the currency exchange used is $1 USD = $1.115 CAD and the bank charges 1.35% commission on the transaction?

Round your final answer properly two decimal places.

$

2 Answers

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  • Hosam
    Lv 6
    8 years ago

    Base amount in Canadian dollars = $400 USD x $1.115 CAD / $1 USD = $ 446 CAD

    Total amount after commision = (1 + 1.35 / 100) ($446 CAD ) = $ 452.02 CAD

  • ?
    Lv 7
    8 years ago

    $1=$1.115

    $400=x

    1/400=1.115/x

    x=400*1.115

    x=$446

    1.35% commission

    leaves

    98.65%

    446*0.9865=

    $439.979

    $439.98

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