Before boarding his flight to Zurich, Switzerland, Eric purchased CHF800 from his bank when the exchange rate was C$1 = CHF0.9685. However, Eric had to cancel the trip. Eric returned to the bank to convert the Swiss currency back into Canadian dollars. If the exchange rate changed to C$1 = CHF0.9886, how many Canadian dollars would Eric have lost in these transactions? Assume the bank has a 0.25% commission on both the sale and the purchase of the funds.
Before boarding his flight to Zurich, Switzerland, Eric purchased CHF800 from his bank when the exchange rate was C$1 = CHF0.9685. However, Eric had to cancel the trip. Eric returned to the bank to convert the Swiss currency back into Canadian dollars. If the exchange rate changed to C$1 = CHF0.9886, how many Canadian dollars would Eric have lost in these transactions? Assume the bank has a 0.25% commission on both the sale and the purchase of the funds.
Kristin saved up C$3,000 to use for her travels during her summer holidays. She first travelled from Toronto to Switzerland, where she converted all her Canadian dollars to Swiss francs at an exchange rate of C$1 = CHF 0.7625. She spent CHF 1,471 and then travelled to London, where she converted the remaining Swiss francs to British pounds at an exchange rate of CHF 1 = £0.7777. She spent £573.34 in London before returning to Toronto. How many Canadian dollars did she receive when she converted the remaining British pounds to Canadian dollars, if the exchange rate when she returned was C$1 = £0.5705?
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