Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 03, 2024

Your firm is based in the UK, just received USD 825,000 from a customer in the U.S., and wants to convert the USD to GBP.

Your firm is based in the UK, just received USD 825,000 from a customer in the U.S., and wants to convert the USD to GBP. The bank is quoting a spot rate of GBP/USD 1.2283 - 1.2425. How much will you receive in British pounds (GBP)?

	A.	GBP 1,025,063
	B.	GBP 663,984
	C.	GBP 1,013,348
	D.	GBP 671,660

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Wealth Mastery Unveiled By Marcus M Dawson A Millennial S Guide To Financial Freedom And Success

Authors: Marcus M. Dawson

1st Edition

979-8865054313

More Books

Students also viewed these Finance questions

Question

★★★★★

Find three vectors u. v and w in R3 such that u and v are orthogonal, u and w are orthogonal, but v and w are not orthogonal. Are your vectors linearly independent or linearly dependent? Can you find...

Answered: 1 week ago

Question

★★★★★

solve the qustions and explain how to use this part log2 1 = 0 log2 2 = 1 Ouestion 5 We will use the dataset below to learn a decision tree which predicts if people pass machine learning (True or...

Answered: 1 week ago

Question

★★★★★

Go to the Take the First Step to Prevention page at the Centers for Disease Control and Preventions website (http://wonder.cdc.gov /data2010/HU.htm). Search for your state, and review the most...

Answered: 1 week ago

Question

★★★★★

Peter Billington Stereo, Inc., supplies car radios to auto manufacturers and is going to open a new plant. The company is undecided between Detroit and Dallas as the site. The fixed costs in Dallas...

Answered: 1 week ago

Question

★★★★★

Answered: 1 week ago

Question

★★★★★

The spot price (S) of an underlying security is one of the variables affecting the value or price (premium) of an option. A decrease in the spot price will cause:

Answered: 1 week ago

Question

★★★★★

Roxanne likes to fish. She estimates that 30% of the fish she catches are trout, 20% are bass, and 10% are perch. She designs a simulation. Let 0, 1, and 2 represent trout. Let 3 and 4 represent...

Answered: 1 week ago

Question

★★★★★

Imagine you work for a leader who does not simply tell everyone what to do but instead carefully considers the relationships among teams and networks and how those relationships play a role in the...

Answered: 1 week ago

Question

★★★★★

The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020: 1. Beginning balances were: Cash, $102,000; Taxes Receivable, $203,000;...

Answered: 1 week ago

Question

★★★★★

Can you please break this down Single Plantwide Factory Overhead Rate Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has...

Answered: 1 week ago

Question

★★★★★

Milden Company is a merchandiser that plans to sell 43,000 units during the next quarter at a selling price of $67 per unit. The company also gathered the following cost estimates for the next...

Answered: 1 week ago

Previous Question Next Question