Question
You often travel to Australia and you need to exchange Australian dollars. Your bank provides the following quotes: Currency Bid Ask Australian Dollar (AUD) 0.65
You often travel to Australia and you need to exchange Australian dollars. Your bank provides the following quotes:
| Currency | Bid | Ask |
| Australian Dollar (AUD) | 0.65 USD/AUD | 0.70 USD/AUD |
If you want to buy 1,000 AUD, how much is the USD cost? (Pick the closest answer)
| A. | 700 USD | |
| B. | 650 USD | |
| C. | 1538 USD | |
| D. | 1428 USD |
QUESTION 10
You often travel to Japan and Australia and you need to exchange Japanese and Australian currencies. Your bank provides the following quotes:
| Currency | Bid | Ask |
| Japanese Yen (JPY) | 105 JPY/USD | 110 JPY/USD |
| Australian Dollar (AUD) | 0.65 USD/AUD | 0.70 USD/AUD |
If you want to convert 5,000 AUD into JPY, how much JPY will you receive from the bank?(Pick the closest answer)
| A. | 341,250 JPY | |
| B. | 3,095 JPY | |
| C. | 385,000 JPY | |
| D. | None is correct. |
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Distressed Debt Analysis Strategies For Speculative Investors
Authors: Stephen Moyer
1st Edition
1932159185, 978-1932159189
