Before her trip to canda liz exchanged 300 U.S dollars for canadian dollars at a rate of 1 U.S dollar to?
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1.35 canadian dollars when liz arrived in canada the exchange rate was 1 canadian dollar to 0.76 U.S dollars determine the amount of money in canadian dollars that liz received for her 300 U.S dollars Determine whether liz would have received more canadian money for 300 U.S dollars if she had waited to exchange her money in canada.Show your work or provide an explanation for the answer. 10 point if correct
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Answer:
Okay giving my brain a workout here. Would have been better that she changed it in the US not when she got to Canada. $1US=1.35CA inverted = $0.74US = $1CA (1divided by 1.35) in US $0.76 = 1CA in Canada So in US $300 = $405CA (300 divided by 0.74) In Canada $300 US = $394 CA Its early so i hope this is right!.
lil L at Yahoo! Answers Visit the source
Other answers
Well...if it had been in November of '07, she would have received 270 Candian Dollars, since the exchange rate was $1.10US to $1CDN... Right now the rate is 95 cents US to $1CDN... Now that I've confused you with reality... The answer to you homework is easily enough done... Read the chapter and it should explain how to do it for you, although you'll still have to do the work. As for the last part...in reality, yes, since I have yet to hear of an American bank that pays fair for exchanges. After all, in November of last year, they were still charging people buying American funds as if the rate was .7USD to the CDN$!, despite the fact it was 1.1 to 1 in favour of the CDN$!!! Good Luck! PS: There is a forum for Homework Help, called Homework Help on Y!A...you might want to post such questions in future there to avoid confusion. :D
jcurrieii
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