# A a good guess is b the exact return is ans a good

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A) A good guess is ______% B) The exact return is __________% ANS: a good guess is 0% the exact return is -4% 16. If you go to a bank with €10,000 and are attempting to convert your euros into dollars, can you use the following quote to complete the transaction: \$1.6308/€ bid? (hint: The bank is saying, “We are bidding \$1.6308 for one euro”) ANS: Yes 17. If you go to a bank with €10,000 and are attempting to convert your euros into dollars, can you use the following quote to complete the transaction: €.8251/\$ bid? (hint: The bank is saying, “We are bidding €.8251 for one US dollar”) ANS: No 18. If you go to a bank with €10,000 and are attempting to convert your euros into dollars, can you use the following quote to complete the transaction: \$1.6522/€ ask? (hint: The bank is saying, “We are asking \$1.6522 for one euro”) ANS: No

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19. If you go to a bank with €10,000 and are attempting to convert your euros into dollars, can you use the following quote to complete the transaction: €.8305/\$ ask? (hint: The bank is saying, “We are asking €.8305 for one US dollar”) ANS: Yes
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• Spring '12
• Scott
• Exchange Rate, United States dollar, ISO 4217

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