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a. Assume you have GH5000 and plan to travel from Ghana to U.S. Assume further that the banks bid rate for the dollar to the
a. Assume you have GH5000 and plan to travel from Ghana to U.S. Assume further that the banks bid rate for the dollar to the cedis is GH1.52 and its ask rate is GH1.60 to the dollar. How many dollars will you get from your GH 5000
b. Now suppose there is an emergency and you dont want to travel again, so you have to reconvert the dollars back to cedis, how much cedis will you have?
c. Assuming that the Stetson bank Bid rate is $0.884 and the Australian Ask rate is $0.9. What is the percentage change of the Ask/Bid spread?
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