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Consider a $/ bid-ask quote of $0.9237 -$0.9242: a). At what dollar price does the bank pay for each ? b). At what dollar price
Consider a $/ bid-ask quote of $0.9237 -$0.9242:
a). At what dollar price does the bank pay for each ?
b). At what dollar price does the bank sell each ?
c). What is the banks profit if it initially holds $1,000,000, converts it into , and then back to $ at the bid and ask prices?
d). What are the corresponding /$ bid and ask prices?
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