SUGGESTED SOLUTIONS TO CHAPTER 5 PROBLEMS

The direct quote for the dollar in London is just the reciprocal of the direct quote for the British pound in New York or 1/1.1115 1/1.1110 = 0.8997 0.9001. 3. Suppose the quote on British pounds is $1.624-31. a. If you converted $10,000 to British pounds and then back to … ................
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