If the C$ strengthens by 3% relative to the euro (C$1.00 = €0.64491), what will be the new value for the euro per C$1.00?

Question

Quizplus · Accepted Answer

If the C$ strengthens by 3%, then the euro will be worth less per C$1.00. To calculate the new value of the euro, we can use the following formula:New value of euro = Old value of euro / (1 + percentage change)Plugging in the given values, we get:New value of euro = €0.64491 / (1 + 0.03) = €0.6256 per C$1.00Therefore, the correct answer is B) €0.6256 per C$1.00.

If the C$ Strengthens by 3% Relative to the Euro