If the bid-ask quotes have not changed how much of your, Financial Management

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If the bid-ask quotes have not changed how much of your

Suppose the spot ask exchange rate, Sa($|£), is $1.90 = £1.00 and the spot bid exchange rate, Sb($|£), is $1.88 = £1.00. Assume you have $20,000,000 and you buy British pounds. Five minutes later you decide to sell them. If the bid-ask quotes have not changed, how much of your investment as "eaten" by the bid-ask spread?

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Financial Management: If the bid-ask quotes have not changed how much of your

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Financial Management: If the bid-ask quotes have not changed how much of your

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