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Customs Broker

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AVG. SALARY

$60,860

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EDUCATION

Bachelor's degree

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JOB OUTLOOK

Stable

Real-Life Activities

Real-Life Math -- Solution

You are a customs broker. You deal with businesses from a number of different countries. In order to figure out how much duty they will have to pay on goods, you must use the current exchange rates.

1. If the cost of importing a shipment of apples into the U.S. from Canada is $320 Cdn, how much will it cost in U.S. dollars?

Exchange rate:
$0.83 US = $1 Cdn

x US = $320 Cdn
x US = $320 x 0.83 US
x US = $265.60

At this exchange rate, $320 Cdn equals $265.60 US.

2. If the cost of importing a shipment of wool clothing into the U.S. is 120 British pounds, how much does it cost in U.S. dollars?

Exchange rate: $1.93 US = 1 British pound

x US = 120 British pounds
x US = 120 x 1.93
x US = $231.60

At this rate, 120 British pounds equals $231.60 US.


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