Question
If the GBP quote is USD 1.2772-87 answer the following questions and please provide formulae and show all workings. a. If you converted $20,000 to
If the GBP quote is USD 1.2772-87 answer the following questions and please provide formulae and show all workings.
a. If you converted $20,000 to GBP and then back to USD, what would be its value in USD?
b. If you are able to buy pounds at the bid rate and sell them at the ask rate, how many USD would you need to earn $1,750 on a round-trip transaction (buying GBP for USD and then selling the GBP for USD)?
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Handbook Of Blockchain Digital Finance And Inclusion
Authors: David Lee, Robert H. Deng
1st Edition
012812282X, 978-0128122822
