1. Suppose the quote on pounds is $1.624-31. If you converted $10,000 to pounds and then back to dollars, how many dollars would you end up with? 2. Suppose the spot quote on the euro is $0.9302-18 and the spot quote on the Swiss franc is $0.6180-90. Compute the percentage bid-ask spreads on the euro and the franc, then calculate the direct spot quote for the franc in Paris. 3. Assuming no transaction costs, suppose the following quotes are available [NY: $1.25961/, Paris: $1.12952/, Singapore: 1.21517/]. How could you take profitable advantage of these rates? Assume you have $1,000,000. 4. Using the following data, answer the following questions: o How much would 1,500,000 cost in dollars? o Is the British pound expected to appreciate or depreciate over the next 6 months? o What is the 90-day forward premium or discount for the British pound