Part 3: Use the table below to answer the following questions (use 4 decimal points). US$ Bank Quotations Bid Ask British pounds $1.9712/ $1.9717/ Euros $1.4738/ $1.47421 1. You want to buy 1,000,000. How much will you spend in $? To earn credits, you must show all your works. (0.4) 2. You have $1,000,000. And, you want to exchange $1,000,000 for . How much will you have in ? To earn credits, you must show all your works. (0.4) 3. You want to buy 1,000,000. How much will you spend in $? To earn credits, you must show all your works. (0.4) 4. What are the bid price quotes for the value of pound in terms of euro? To eam credits, you must show all your works. (0.4) 5. What are the ask price quotes for the value of pound in terms of euro? To earn credits, you must show all your works. (0.4) 6. Please find Bid-Ask spread for /. To eam credits, you must show all your works. (0.2) 7. What are the bid price quotes for the value of euro in terms of pounds? To eam credits, you must show all your works. (0.4) 8. What are the ask price quotes for the value of euro in terms of pounds? To earn credits, you must show all your works. (0.4) 9. Please find Bid-Ask spread for /. To eam credits, you must show all your works. (0.2) 10. You have 1,000,000. And, you want to exchange 1,000,000 for . How much will you have in ? To earn credits, you must show all your works. (1) 11. You have 1,000,000. And, you want to exchange 1,000,000 for . How much will you have in ? To earn credits, you must show all your works. (1)