How Much Will It Cost in C$ to Buy €2,000

question 244

Multiple Choice

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

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Definitions:

Magma Chamber

A large underground pool of liquid rock found beneath the surface of the Earth.

Molten Rock

Rock that has been heated to a temperature where it becomes liquid, known as magma beneath the Earth's surface and lava when it erupts.

Underground Body

A mass of geologic material beneath the Earth's surface, such as rock formations, ore bodies, or aquifers.

Continental Settings

The environmental and geological conditions found on the continents, as opposed to oceanic settings.