A currency dealer gave Nick the following rates. He gave Nick the value of 1 in dollars in the first row, and the value of 1 in dollars in the second row. What are the meanings of these rates (1.600, 1.620, 1.250, 1.260)? American Terms Bid Ask Pound 1.600 1.620 Euro 1.250 1.260 Nick wants to find the European terms in each row. In other words, he wants to find the value of $1 in pounds (both bid and ask prices in the first row), and he also wants to find the value of $1 in euros (both bid and ask prices in the second row). How can he find these rates? What are these rates? American European Bid Pound Bid 1.600 Ask 1.620 Ask ? . Euro 1.250 1.260 ? . Nick wants to sell 250,000 pounds. How many euros will he get? If his company sells 5 million euros, how many pounds will they get? Nick's friend Jonathan wants to buy 1 million pounds. How many euros will he pay? Jonathan's firm wants to buy 2 million euros How many sounds will they say