Question: Use the following table for the first two questions: U.S. $ equivalent Bid Ask Canadian dollar 0.8653 0.8667 Euro 1.4000 1.4200 1. What is the

Use the following table for the first two questions:

U.S. $ equivalent

Bid Ask

Canadian dollar 0.8653 0.8667

Euro 1.4000 1.4200

1. What is the BID cross-exchange rate for Canadian dollars priced in euro? Hint: Find the price that a currency dealer will pay in euro to buy Canadian dollars. In other words, how many euros will you get if you convert your Canadian dollar to euro?

2. What is the ASK cross-exchange rate for Canadian dollars priced in euro? Hint: Find the price that a currency dealer will take in euro to sell Canadian dollars. In other words, how many Canadian dollars will you get if you convert your euro to Canadian dollar?

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