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mixer [17]
2 years ago
5

The foreign exchange department of Bank of America has a bid quote on Canadian dollars (C$) of C$1.1448/$. If the bank typically

tries to make a bid-ask spread of 0.5 percent on these foreign exchange transactions, what will the ask rate have to be? (Round answer to 2 decimal places, e.g. 52.75.)
Business
1 answer:
stealth61 [152]2 years ago
6 0

Based on the bid quote given on the Canadian dollar, and the bid-ask spread, the ask rate would be $1.15.

<h3>What is the ask rate?</h3>

When given the bid-ask spread and the bid quote, the ask rate is:

= Bid quote x ( 1 + bid-ask spread)

Solving gives:

= 1.1448 x (1 + 0.5%)

= 1.1448 x 1.005

= 1.150524

= $1.15 2 d.p.

Find out more on the ask rate at brainly.com/question/13185509.

#SPJ1

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This selection implies that the author believes sales of the Nestlé chocolate bar soared because __________.
velikii [3]
The best and most correct answer among the choices provided by your question is the third choice or letter C.

Nestlé chocolate bar soared because people loved making cookies with Nestlé chocolate bars.

I hope my answer has come to your help. Thank you for posting your question here in Brainly. We hope to answer more of your questions and inquiries soon. Have a nice day ahead!
7 0
3 years ago
Press conferences serve which of the following purposes for an organization?
Masteriza [31]

A press conference serves to answer question regarding the organization and any information that the organization wishes to share.

5 0
2 years ago
The standard cost card for a product indicates that one unit of the product requires 8 kilograms of a raw material at $0.80 per
Likurg_2 [28]

Answer:

Direct material quantity variance= $992 unfavorable

Explanation:

Giving the following information:

Standard quantiy= 8kg

Standard cost= $0.8 per kilogram

Production= 870 unit

8,200 kilograms of the raw material was purchased for $6,888.

To calculate the material quantity variance, we need to use the following formula:

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Standard quantity= 870*8= 6,960kg

Direct material quantity variance= (6,960 - 8,200)*0.8

Direct material quantity variance= $992 unfavorable

7 0
3 years ago
Assume that Hotel Excellent uses activity-based costing to allocate hotel overhead to guests. In Hotel Excellent, if the budgete
Lyrx [107]

Answer:

c. $33.33 per housekeeping hour

Explanation:

The housekeeping department's activity rate is how much each housekeeping hour costs.

This question can be solved by a simple rule of three.

27000 hours cost $900000. How much does 1 hour cost?

27,000 hours - $900,000.

1 hour - $x.

27000x = 900000

x = \frac{900000}{27000}

x = 33.33

So the correct answer is:

c. $33.33 per housekeeping hour

5 0
3 years ago
Whom do progressive taxes asses
grin007 [14]

Answer

Hi,

Progressive tax assesses a taxpayer’s ability to pay. Higher rates are on the wealthy than on the poor.

Explanation

Those considered poor according to a country’s definition have families who spend larger shares of their income on the cost of living thus all money they earn is needed to afford basic needs thus face a decreased progressive tax. On the other hand, the progressive tax imposed on wealthy individuals decrease their abilities to purchase more luxury items or invest in stock.

Hope this helps!

6 0
3 years ago
Read 2 more answers
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