A. An Omani businessman has just completed transactions in UAE and Saudi Arabia . He is now holding AED 710,000 and SAR 1,210, 000 and wants to convert it to Omani rial (OMR). His currency dealer provides this quotation: Bid Ask SAR/USD 3.7500 - 12 USD/AED 0.2722 - 08 OMR/USD 0.3846 - 04 What are his proceeds from conversions?
A. An Omani businessman has just completed transactions in UAE and Saudi Arabia . He is now holding AED 710,000 and SAR 1,210, 000 and wants to convert it to Omani rial (OMR). His currency dealer provides this quotation: Bid Ask SAR/USD 3.7500 - 12 USD/AED 0.2722 - 08 OMR/USD 0.3846 - 04 What are his proceeds from conversions?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Q2) A. An Omani businessman has just completed transactions in UAE and Saudi Arabia . He is now holding AED 710,000 and SAR 1,210, 000 and wants to convert it to Omani rial (OMR).
His currency dealer provides this quotation:
Bid Ask
SAR/USD 3.7500 - 12
USD/AED 0.2722 - 08
OMR/USD 0.3846 - 04
What are his proceeds from conversions?
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