7
QuizMultiple Choice

Exchanging Currencies Money Markets — Quiz

Question 7 • Financial Math

Raina is traveling to Switzerland and needs to exchange her US dollars (USD) for Swiss francs (CHF). The current exchange rate is 1 USD = 0.90 CHF, and the currency exchange service charges a 1.5% transaction fee. How many US dollars does Raina need to exchange to receive 270 CHF after the fee is applied?

Answer
A
304 point 5 7 USD
B
300 USD
C
243 USD
D
274 point 1 1 USD
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