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Assume That You Are a Retail Customer If You Had €1,000,000 and Traded It for USD at to Answer

Question 81

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Assume that you are a retail customer.Use the information below to answer the following question.
 Bid  Ask  Borrowing  Lending S0($/)$1.40=1.00$1.43=1.00 i$ 4.20%APR4.10%APRF360($/ϵ)$1.44=1.00$1.49=1.00 i€ 3.65%APR3.50%APR\begin{array} { r c c c c c } & \text { Bid }& \text { Ask }& \text { Borrowing } &\text { Lending }\\S _ { 0 } ( \$ / € ) & \$ 1.40 = € 1.00 & \$ 1.43 = € 1.00 &\text { i\$ } 4.20 \% \mathrm { APR } & 4.10 \% \mathrm { APR } \\F _ { 360 } ( \$ / \epsilon ) & \$ 1.44= € 1.00 & \$ 1.49= € 1.00 & \text { i€ } 3.65\% \mathrm { APR } & 3.50 \% \mathrm { APR }\end{array} If you had €1,000,000 and traded it for USD at the spot rate,how many USD will you get?

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