Asif Is Travelling to New York from Toronto to Purchase

question 100

Essay

Asif is travelling to New York from Toronto to purchase a laptop that is only available in America. The laptop is being sold for $799 in US dollars. Calculate the price of the laptop in Canadian dollars if one American dollar is worth 1.29 Canadian dollars.

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Definitions:

Working Capital Management

Working capital management involves managing the short-term assets and liabilities of a company to ensure it has sufficient liquidity to run its operations smoothly.

Multinational Firms

Companies that operate in multiple countries, managing production or service facilities outside their home country.

Eurocurrency Deposits

Time deposits held in banks outside their country of origin but denominated in the currency of the country of origin, often used for international transactions.

Lending Rate

Lending Rate is the interest rate charged by banks on loans extended to clients, reflecting the cost of borrowing money.