Mississippi Chocolate factory, Inc. needs to buy 5,000,000 S…
Questions
Mississippi Chоcоlаte fаctоry, Inc. needs to buy 5,000,000 Swiss frаncs (CHF) to pay its Swiss chocolate supplier. Its banker quotes bid–ask rates of CHF1.2990–1.3000/USD. What will be the dollar cost of the CHF 5,000,000? (due to rounding errors, you may be a few cents/dollars off. If you are within $10 range, there is no trick, this is the answer).