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What would you receive in dollars if you sold pz 5 million

A foreign exchange dealer in Warsaw provides quotes for spot and 3-month forward rates for the Polish zloty against the dollar.

Bid (PZ/$)	Ask (PZ/$)
Spot	4.0040	4.0200
3-month forward	3.9690	3.9888

a. What would you receive in dollars if you sold PZ 5 million at the spot rate?

b. What would it cost in dollars to purchase PZ 20 million forward three months. When would you make payment?

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Finance Basics: What would you receive in dollars if you sold pz 5 million

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