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International Finance

A company needs to buy E10 million. The quote is E0.950/$-0.980/$. How much does it cost the company to buy the Euros?

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In order to arrive at the correct answer, you will do the following:

10,000,000/0.950 = 10,526,316

In order to understand the quotes, you must know ...

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The solution does a superb job of laying out step by step explanation to the problem. The solution is very well explained and uses detailed steps to explain the answer. The solution can be followed by anyone with a basic understanding of the concepts. Overall, an excellent response.