How much will it cost in C$ to buy €2,000 in traveller's cheques if the exchange rate is C$1.00 = €0.7448, and the financial institution charges a fee of ½%?

A) $2,698.71
B) $3,207.17
C) $2,685.28
D) $1,247.20
E) $1,497.05

Question

Carmen Tucker · Accepted Answer

Final Answer : A, Explanation :  To find the cost in C$, divide €2,000 by the exchange rate (0.7448) to get C$2,685.28. Then, add a 0.5% fee: C$2,685.28 * 1.005 = C$2,698.71.

How much will it cost in C$ to buy €2,000 in traveller's cheques if the exchange rate is C$1.00 = €0.7448, and the financial institution charges a fee of ½%?

A) $2,698.71
B) $3,207.17
C) $2,685.28
D) $1,247.20
E) $1,497.05

Definitions

Learning Objectives

Learning Objectives

Related questions

How much will it cost in C$ to buy €2,000 in traveller's cheques if the exchange rate is C$1.00 = €0.7448, and the financial institution charges a fee of ½%?A) $2,698.71B) $3,207.17C) $2,685.28D) $1,247.20E) $1,497.05

Definitions

Learning Objectives

Learning Objectives

Related questions

How much will it cost in C$ to buy €2,000 in traveller's cheques if the exchange rate is C$1.00 = €0.7448, and the financial institution charges a fee of ½%?

A) $2,698.71
B) $3,207.17
C) $2,685.28
D) $1,247.20
E) $1,497.05