Sylvia had planned a shopping trip to the United States so she bought US$500 from a bank when the exchange rate was C$1 = US$0.7834. Later, her trip to the US was cancelled, so she returned to the bank to convert the US$500 back into Canadian dollars. At this time, the exchange rate had changed to C$1 = US$0.8137. The bank charged a commission of 0.40% on the last transaction only. Determine how many Canadian dollars Sylvia lost as a result of these transactions.
Sylvia had planned a shopping trip to the United States so she bought US$500 from a bank when the exchange rate was C$1 = US$0.7834. Later, her trip to the US was cancelled, so she returned to the bank to convert the US$500 back into Canadian dollars. At this time, the exchange rate had changed to C$1 = US$0.8137. The bank charged a commission of 0.40% on the last transaction only. Determine how many Canadian dollars Sylvia lost as a result of these transactions.
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Transcribed Image Text:Sylvia had planned a shopping trip to the United States so she bought US$500 from
a bank when the exchange rate was C$1 = US$0.7834.
Later, her trip to the US was cancelled, so she returned to the bank to convert the
US$500 back into Canadian dollars. At this time, the exchange rate had changed to
C$1 = US$0.8137. The bank charged a commission of 0.40% on the last transaction
only.
Determine how many Canadian dollars Sylvia lost as a result of these transactions.
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