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3. (4 marks): A speculator (US-based) has just completed transactions in Belgium and England. He is now holding 350,000 and 200,000 and wants to convert

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3. (4 marks): A speculator (US-based) has just completed transactions in Belgium and England. He is now holding 350,000 and 200,000 and wants to convert to U.S. dollars. His currency dealer provides this quotation: GBP/USD 0.5025 - 0.5077 USD/EUR $1.4739 - $1.4747 Assuming no other fees, what are his proceeds from conversion

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