A) Based on the Exchange Rates in the Above Table

question 282

Essay

a) Based on the exchange rates in the above table, what was the percent transaction cost on your purchase of €1,100 from each of the Royal Bank and the airport currency exchange kiosk? On any currency exchange transaction, the airport currency exchange kiosk applies a C$3.50 service charge.
b) You returned from your trip to Italy with €53. Assuming the exchange rates remained the same, what percent transaction cost would you have paid to convert €53 back to C$ at the Royal Bank and at the airport currency exchange kiosk?

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Definitions:

Direct Approach

A method of communication where the main point or request is presented at the beginning, followed by supporting details.

Opening Paragraph

The initial section of a piece of writing that introduces the topic, sets the tone, and provides a direction for the text.

Bad-News Message

Communication aimed at delivering unfavorable or disappointing information to the recipient in a tactful way.

Indirect Approach

A communication strategy where the main point or message is not immediately presented, used often to soften the delivery of sensitive information.