If the direct price of the U.S. dollar is Malaysian ringgit is MYR 2.5 in Kuala Lumpur and transaction costs were .4% of the amount transacted, then the minimum? maximum direct quotes for the ringgit in New York are:

Name: If the direct price of the U.S. dollar is Malaysian ringgit is MYR 2.5 in Kuala Lumpur and transaction costs were .4% of the amount transacted, then the minimum? maximum direct quotes for the ringgit in New York are:
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Question

Quizplus · Accepted Answer

1 / 2.5 × 1.004 = .4016; 1 / 2.5 / 1.004 = .3984

If the Direct Price of the U