asked 33.7k views
4 votes
A Canadian wheat farmer wants to buy a tractor in the United States. The tractor costs $100,000. In the fall of 2005, the CAD/USD (Canadian dollars to U.S. dollars) exchange rate was 1.2. In the spring of 2006, the exchange rate was 1.15. In which year would the farmer pay the least amount of Canadian dollars to buy the tractor?

asked
User Tim MB
by
8.4k points

1 Answer

3 votes

Answer:

2006

Explanation:

The exchange rate required the fewest Canadian dollars for each US dollar in the spring of 2006.

answered
User Graeme Stuart
by
8.0k points
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