Question

Can someone please give me a detailed explanation of how to solve these? thank you! QUESTION...

Can someone please give me a detailed explanation of how to solve these? thank you!

QUESTION 4 Use the following information to answer the next two questions. Suppose the spot quotes for the Mexican pesos and pounds are \$.1252‑58 and \$1.055‑62, respectively. What is the ask quote for pounds in terms of pesos? Round intermediate calculations to four decimal places.

8.4420

8.4265

8.4824

8.3125

Question 5 Find the bid quote for pounds in terms of pesos. Round intermediate steps and your final answer to four decimals. Do not use non-numeric characters when entering your answer.

Bid price is the price at which the trader is willing to sell

In the case the ask price for Mexican Peso=\$0.1252

1. pound=\$.055

. 1 dollar=(1/0.1252) Mexican Pesos

1\$=7.98722 Peso

\$1.055 =(1.055*7.98722) Peso=8.4265 Pesos

1Pound=8.4265 Pesos

8.4265

Q5.

Bid Quotes:

In the case the bid price for Mexican Peso=\$0.1258

1. pound=\$.062

. 1 dollar=(1/0.1258) Mexican Pesos

1\$=7.949126 Peso

\$1.062 =(1.062*7.949126) Peso=8.441971 Pesos

1 Pound =8.441971 Peso

Rounded to 4 decimal

1 Pound=8.4420 Pesos