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Assume that a bank's bid rate on Swiss francs is $.45 and its ask rate is $.47. Its bid/ask percentage spread is: a. about 9.1%.
Assume that a bank's bid rate on Swiss francs is $.45 and its ask rate is $.47. Its bid/ask percentage spread is:
| a. | about 9.1%. | |
| b. | None of the above is correct. | |
| c. | about 5.40%. | |
| d. | about 9.9%. |
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Financial Management Theory And Practice
Authors: Eugene F. Brigham, Michael C. Ehrhardt
10th Edition
0030329922, 9780030329920
