If the Exchange Rate for Canadian and U

question 78

Multiple Choice

If the exchange rate for Canadian and U.S. dollars is 0.82777 to 1, this implies that 3 Canadian dollars will buy ____ worth of U.S. dollars.

• A) $0.2759
• B) $0.82777
• C) $1.82777
• D) $2.48
• E) None of these.

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Definitions:

Non-Interest-Bearing

Pertaining to debt or security that does not earn interest over time, usually issued at a discount to its redemption value.

Simple Interest

The calculation of interest that exclusively considers the initial amount of money deposited or borrowed, without compounding.

Promissory Note

A budgetary instrument which holds a written assurance from one party to compensate another with a predetermined sum of money, either instantly on demand or at a pre-agreed date.

Missing Value

A data point or entry that is not recorded or absent in a dataset.