Assume That You Are a Retail Customer If You Had €1,000,000 and Traded It for USD at to Answer

question 53

Essay

Assume that you are a retail customer.Use the information below to answer the following question.
$$\begin{array} { r c c c c c } & \text { Bid }& \text { Ask }& \text { Borrowing } &\text { Lending }\\S _ { 0 } ( \$ / € ) & \$ 1.40 = € 1.00 & \$ 1.43 = € 1.00 &\text { i\$ } 4.20 \% \mathrm { APR } & 4.10 \% \mathrm { APR } \\F _ { 360 } ( \$ / \epsilon ) & \$ 1.44= € 1.00 & \$ 1.49= € 1.00 & \text { i€ } 3.65\% \mathrm { APR } & 3.50 \% \mathrm { APR }\end{array}$$ If you had €1,000,000 and traded it for USD at the spot rate,how many USD will you get?