5. A newspaper listed spot exchange rates for the Japanese yen () as follows: Buying rate: ...
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5. A newspaper listed spot exchange rates for the Japanese yen (¥) as follows:
Buying rate: ¥
Selling rate: ¥
How many U.S. dollars does a U.S. enterprise have to exchange for ¥50,000 at the above rates to settle a trade account payable denominated in that amount to a Japanese supplier?
Explain.
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