If he makes his trade on the day with the least favorable exchange rate, the amount received is ins 38.35
From the complete question, we have the following parameters:
£1= 0.47 --- least favorable rate
Given that the uses a charge of 8%, the amount received when he converts £88.65 is calculated using:
Amount = Rate * Amount * (1 - 8%)
So, we have:
Amount = 0.47 * 88.65 * (1 - 8%)
Evaluate the product
Amount = 38.33
The closest amount to 38.33 is 38.35.
Hence, the amount received is ins 38.35
Read more about metric units at:
https://brainly.com/question/2004114
#SPJ4
