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S uppose a quote f or sterling () in New York is $ 1 . 2050 - 7 0. a. What i s th e

Suppose a quote for sterling () in New York is $1.2050-70.

a.What is the implied bid-ask quote for dollar in New York?

a. How much will it cost to buy 500,000?

b. How much will you get if sell 500,000?

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