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ABC Bank receives a spread of GHS 0 . 5 per US$ and 6 . 8 4 9 % of spread ( or 0 .
ABC Bank receives a spread of GHS per US$ and of spread or decimals on the trading of foreign currencies.
a Determine its bid rate.
b Determine its ask rate.
c Peace Ltd a customer, needs US$ million to buy a machine from Boeing Ltd How much is the cost of the machine in GHS
d What is the profit of the bank?
e Love Ltd a customer, has US$ million but needs GB If ABC Bank quotes the GHS GB as how much GB will Love Ltd get?
f What is the profit of the bank on the transaction of Love Ltd
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