1. The following table shows foreign exchange quotations of a USA bank.

USD quotations	American Terms		European Terms
	Bid	Ask	Bid	Ask
Pound	1.9712	1.9717	0.5072	0.5073
Euros	1.4738	1.4742	0.6783	0.6785

1. Differentiate American terms and European terms quotations. Provide example from the table to elaborate your answer.

(4 marks)

2. Indicate the dollar amount you have to pay if you want to buy one EUR from the USA bank.

(3 marks)

3. Complete the below table using appropriate bid quotation (in /$ or $/) of the USA bank.

(5 marks)