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QUESTION
Assume that you are a retail customer. Use the information below to answer the following question. Bid Ask Borrowing Lending S 0 ($/) $1.42 = 1.00...
Assume that you are a retail customer. Use the information below to answer the following question.
Bid Ask Borrowing LendingS0($/€) $1.42 = €1.00 $1.45 = €1.00 i$4.25% APR 4% APRF360($/€) $1.48 = €1.00 $1.50 = €1.00 i€3.10% APR 3% APR
If you had €1,000,000 and traded it for USD at the spot rate, how many USD will you get?
