bank in Toronto charges 2.00% commission to buy and sell currencies. Assume that

the current exchange rate is US$1 = C$1.3245.

a. How many Canadian dollars will you have to pay to purchase US$1,465?

$0.00

Round to the nearest cent Use python

You will have to pay **C$1,979.20** to purchase US$1,465, considering the exchange rate and the 2.00% commission charged by the bank.

Would you like more details or have any questions? 

Here are some related questions you might find useful:

1. How does commission affect the total cost when buying foreign currency?
2. How can you calculate the amount of currency you can purchase with a specific amount of money?
3. What are the advantages of using a currency exchange service with a lower commission rate?
4. How do currency exchange rates fluctuate over time?
5. How do you calculate the total amount when selling foreign currency back to your local currency?
6. What factors can influence the cost of purchasing foreign currency?
7. How do online currency exchange platforms compare to banks in terms of rates and fees?
8. What is the impact of commission on large currency transactions?

**Tip:** When dealing with large amounts of currency exchange, even small differences in commission rates can result in significant cost savings.

Learn how to calculate the amount of Canadian dollars needed to purchase US$1,465, considering a 2.00% commission and the current exchange rate of US$1 = C$1.3245. Round the result to the nearest cent.

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