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4. (8 points) A traveler wants exchange $700 for British pound. The following quotes for the British pound are available from two banks: $/ bid

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4. (8 points) A traveler wants exchange $700 for British pound. The following quotes for the British pound are available from two banks: $/ bid rate $/ ask rate Citibank $1.307/ $1.317/ Barclays $1.308/ $1.319/ (a) Which bank should the traveler choose in order to get the best rate? (b) How many pounds will this individual obtain

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