Suppose that after a recent large sale of cars, Nissan is holding 1 billion Chinese...
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Suppose that after a recent large sale of cars, Nissan is holding 1 billion Chinese Yuan (CNY). Nissan wants to convert that 1 billion CNY to Japanese Yen (JPY). Suppose that Japan Post Bank offers Bid-Ask quotes of 0.04922 CNY per JPY and 0.04943 CNY per JPY. How many JPY will Nissan have if the company exchanges to yen with Japan Post Bank? 20,316,944,332 yen 20,230,629,173 yen 49,220,000 yen 49,430,000 yen
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