The cash manager at AmFlex Company needs to buy 1,000,000 British poun
The cash manager at AmFlex Company needs to buy 1,000,000 British pounds to pay a British supplier. A currency broker quotes him a bid-ask rate of ₤.4865-.5116/US$. What will be the dollar cost the 1,000,000 pounds?
A) $2,055,499
B) $1,954,652
C) $486,618
D) $511,587
ANSWER
Answer: A
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