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IFSE Institute Investments & Banking CIFC Question # 61 Topic 7 Discussion

CIFC Exam Topic 7 Question 61 Discussion:
Question #: 61
Topic #: 7

Francis wants to redeem his US Asset Allocation Fund as he needs the money for a down payment for a home purchase. The current proceeds from the redemption are USD $27,859, and the current CAD/USD exchange rate is 0.7353.

How much will Francis receive in Canadian dollars when he redeems the Funds? Please round your answer to the nearest dollar.


A.

$37,888


B.

$36,698


C.

$42,861


D.

$35,859


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