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Assume That You Are a Retail Customer (I If You Had Borrowed $1,000,000 and Traded for Euro at the Ask

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Assume that you are a retail customer (i.e.,you buy at the ask and sell at the bid).Use the information below to answer the following question.
 Bid ASK APR S0($/)$1.42=1.00$1.45=1.00i$4%F360($/)$1.48=1.00$1.50=1.00i3%\begin{array}{rccccc} &{\text { Bid}} & \text { ASK} & \text { APR } \\ S_{0}(\$ / €) & \$ 1.42= €1.00 & \$1.45= €1.00 &i \$ 4\% \\F_{360}(\$ / €) & \$ 1.48= € 1.00& \$1.50= €1.00 & i €3\%\end{array} If you had borrowed $1,000,000 and traded for euro at the spot rate,how many € do you receive?

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Shading

The technique in drawing and art of adding darkness to convey the sense of depth, volume, or to create the illusion of shadow.

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