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Suppose a bank customer with €1,000,000 wishes to trade out of euro and into Japanese yen. The dollar-euro exchange rate is quoted as $1.60 = €1.00 and the dollar-yen exchange r…

Suppose a bank customer with €1,000,000 wishes to trade out of euro and into Japanese yen. The dollar-euro exchange rate is quoted as $1.60 = €1.00 and the dollar-yen exchange r…
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Suppose a bank customer with €1,000,000 wishes to trade out of euro and into Japanese yen. The dollar-euro exchange rate is quoted as $1.60 = €1.00 and the dollar-yen exchange rate is quoted at $1.00 = ¥120. How many yen will the customer get?

asked
User Michael Edmison
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8.7k points

1 Answer

6 votes

Answer:

192,000,000 yen

Step-by-step explanation:

Please see attachment

Suppose a bank customer with €1,000,000 wishes to trade out of euro and into Japanese-example-1
answered
User MUHAMMED IQBAL PA
by
8.4k points
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