NOTE THAT WE NEED A PERSON WHO KNOWS THESE QUESTION 100% AND SHOWING WORKING CLEAR STEP BY STEP, please if you don't know steps and you are week in showing calculations steps please and please don't answer give chances to persons that know. These are the second time posting these questions

(a) Explain the concept of "points" and how it is used in quoting forward exchange rates. (b) The following exchange rates were observed in Dar es Salaam on 30th October 2010. TSHS/US$ TSHS/ Spot 1450 - 1510 2550 - 2670 1 Year Forward 1550 - 1570 2675 - 2700 Further, it is assumed that cross rate quotations for US$ and are available. Required: (i) With supporting computations, indicate whether the is trading at a forward discount or premium relative to the US$. Use mid-prices to determine the one year forward premium or discount on the relative to the US$. (ii) Suppose you have to purchase US$10,000 one year forward. What will be the cost of this transaction in ?. (iii) Compute the percentage bid-ask spread on the spot