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Suppose the spot ask exchange rate

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Reference no: EM131206282

Suppose the spot ask exchange rate, Sa ($|£), is $1.90 = £1.00 and the spot bid exchange rate, Sb ($|£), is $1.89 = £1.00. If you were to buy $10,000,000 worth of British pounds and then sell them five minutes later, how much of your $10,000,000 would be "eaten" by the bid-ask spread?

A. $1,000,000

B. $52,910.05

C. $100,000

D. $52,631.58

Reference no: EM131206282

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