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Suppose that after a recent large sale of cars, Nissan is holding 1 billion Chinese Yuan (CNY). Nissan wants to convert that 1 billion CNY to Japanese Yen (JPY). Suppose that Japan Post Bank offers Bid-Ask quotes of 0.04922 CNY per JPY and 0.04943 CNY per JPY. How many JPY will Nissan have if the company exchanges to yen with Japan Post Bank? 20,316,944,332 yen 49,220,000 yen 20,230,629,173 yen 49,430,000 yen

Suppose that after a recent large sale of cars, Nissan is holding 1 billion Chinese Yuan (CNY). Nissan wants to convert that 1 billion CNY to Japanese Yen (JPY). Suppose that Japan Post Bank offers Bid-Ask quotes of 0.04922 CNY per JPY and 0.04943 CNY per JPY. How many JPY will Nissan have if the company exchanges to yen with Japan Post Bank? 20,316,944,332 yen 49,220,000 yen 20,230,629,173 yen 49,430,000 yen

Essentials Of Investments
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
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Suppose that after a recent large sale of cars, Nissan is holding 1 billion Chinese Yuan (CNY). Nissan wants to convert that 1 billion CNY to Japanese Yen (JPY). Suppose that Japan Post Bank offers Bid-Ask quotes of 0.04922 CNY per JPY and 0.04943 CNY per JPY. How many JPY will Nissan have if the company exchanges to yen with Japan Post Bank? 20,316,944,332 yen O 49,220,000 yen 20,230,629,173 yen 49,430,000 yen
Transcribed Image Text:Suppose that after a recent large sale of cars, Nissan is holding 1 billion Chinese Yuan (CNY). Nissan wants to convert that 1 billion CNY to Japanese Yen (JPY). Suppose that Japan Post Bank offers Bid-Ask quotes of 0.04922 CNY per JPY and 0.04943 CNY per JPY. How many JPY will Nissan have if the company exchanges to yen with Japan Post Bank? 20,316,944,332 yen O 49,220,000 yen 20,230,629,173 yen 49,430,000 yen
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