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(a) The following quotations are provided by Mayri Bank: Value of Malaysian ringgit in U.S. dollar (MYR/USD) : 0.2500/0.2620 Value of Canadian dollar in U.S.
(a) The following quotations are provided by Mayri Bank: Value of Malaysian ringgit in U.S. dollar (MYR/USD) : 0.2500/0.2620 Value of Canadian dollar in U.S. dollar (CAD/USD) : 0.7840/0.7900 Required: (i) Given the information above, calculate the bid and ask quotations for the value of the Canadian dollar in Malaysian ringgit (CAD/MYR). (ii) If you would like to exchange Canadian dollars, how much would CAD5,000 cost in Malaysian ringgit?
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