https://file.aiquickdraw.com/mathbot/file/1730547988305xuh409a0.jpg

Let's work through the problem in Question 1.

1. **Initial Information**:
   - You have $321 USD to convert to Canadian dollars (C$).
   - The exchange rate is **1.0287 C$ per 1 USD**.
   - There's a **5% commission** charged on the transaction.

2. **Calculate the C$ before Commission**:
   - Convert $321 USD to C$ using the exchange rate:
     \[
     321 \, \text{USD} \times 1.0287 = 329.2227 \, \text{C$}
     \]

3. **Apply the 5% Commission**:
   - A 5% commission means you only receive **95%** of the converted amount.
   - Calculate 95% of 329.2227 C$:
     \[
     329.2227 \times 0.95 = 312.761565 \approx 312.76 \, \text{C$}
     \]

4. **Select the Closest Answer**:
   - The calculated amount (312.76 C$) is closest to **$313.70** in the answer choices.

Therefore, the correct answer is likely **$313.70**.

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Would you like further details, or do you have any questions?

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Here are some related questions you might find useful:
1. How does commission affect currency exchange rates in real-world scenarios?
2. What would the result be if there was no commission on this transaction?
3. How is exchange rate fluctuation managed in currency exchange offices?
4. What happens if the commission is a fixed fee instead of a percentage?
5. Can the exchange rate be negotiated at currency exchange counters?

**Tip:** When dealing with currency exchange problems, always apply the exchange rate first, then subtract any commission or fees.

After spending a week in the United States, you are traveling back to Canada. Before departure from JFK, you convert your remaining USD to CAD at the exchange rate of 1.0287 per USD. How many CAD will you receive for $321 if the currency shop charges a 5% commission on this transaction?

Learn how to calculate the amount received in CAD after converting $321 USD to CAD with an exchange rate of 1.0287 and a 5% commission. This solution walks through currency exchange and percentage calculations, ideal for students in Grades 10-12.

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