Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Canadian dollar ( CAD ) and to quote the rate as the number of CAD per MYR . Kangaroo Inc has not said which direction

Canadian dollar (CAD) and to quote the rate as the number of CAD per MYR. Kangaroo Inc has not said which direction they want to trade so Citibank quotes a bid and an ask rate. Citibank quotes the rate as 0.2365-0.2405. Suppose Kangaroo Inc decides to buy 31 mio MYR from Citibank. At what rate do they trade?How many CAD does Kangaroo Inc pay to Citibank. Give your answer to the nearest CAD.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Principles And Practice

Authors: Timothy Gallagher

7th Edition

0996095462, 978-0996095464

More Books

Students also viewed these Finance questions