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Assume that a bank's bid rate on Japanese yen is $.0052 and its ask rate is $.0056. Using the bid/ask rate compute the bid/ask spread

Assume that a bank's bid rate on Japanese yen is $.0052 and its ask rate is $.0056. Using the bid/ask rate compute the bid/ask spread percentage. If you converted a $1000 to Japanese yen and back to dollars again how much money would you lose?

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