a. Kevin has a business trip to London. Before he left, he went to a bank to convert RM10,000 to British pound sterling ().
a. Kevin has a business trip to London. Before he left, he went to a bank to convert RM10,000 to British pound sterling (). The buying and selling rate during that time were quoted as follows: b. Table 1 Buy rate Sell rate RM 5.812 RM 5.820 He spent 1,500, and upon his return to work, he converted the remaining balance from pounds to ringgit. Calculate the amount of money he received and the amount he spent in ringgit. (Round to 1 dollar and 1 ringgit) (8 Marks) A currency trader has observed that the spot rate of the following currencies as follows: EUR/GBP 1.14 CAD/GBP = 1.71 MYR/CAD = 3.41 Determine the current spot rate for the MYR/EUR. (6 Marks)
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