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C. Zambia is hosting the 2016 Annual General Meeting for the African Development Bank (AfDB). As such, you have been selected to join a team
C. Zambia is hosting the 2016 Annual General Meeting for the African Development Bank (AfDB). As such, you have been selected to join a team of ushers who will facilitate the stay of all the delegates. Suppose you were approached by a delegate who held various foreign currencies: R 50,000, $3,000, 1, 400 and 1,200. This delegate came to Zambia with the expectation of investing, hence the large sums of money. Using the table below, answer the following questions: Currency US Dollar $ GB Pound Euro Rand R BID/ Buying 10 14) 11 0.6) Ask/ Selling 11) 151 12 0.71 Required: i. How much Kwacha does the delegate own once he has converted all the currencies he has? [4 marks] ii. Explain to this delegate the pros and cons of investing in the Lusaka Stock Market (LUSE) today. [4 marks] [Total: 25 marks]
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