Foreign Exchange
Foreign Exchange
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In our eReader you can find the full English version of the book. Read Foreign Exchange Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Foreign Exchange
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To quickly assess the difficulty of the text, read a short excerpt:
00 Number of pounds face value of return sterling bill therefore required, at rate £1 = $4. 80 £1, 54B4 I. E. , 7, 398 -4- 4. 80 = 1, 514%.
The assumptions underlying this calculation are (1) that 150 days will elapse between the drawing of the original draft and the realization or recovery of dollars in New York from the return sterling bill, and (2) that the amount 292 FOREIGN EXCHANGE realized from each pound of this return bill will be $4. 80. It happens, as already explained, that if Smith...'s original draft is sold to a banker the return bill will not in fact come to New York, but will be forwarded from Buenos Aires direct to London, for the purpose of saving time ; but to make as clear as possible the customary computation, with which we are now concerned, let us suppose for the moment that the return bill is sent to New York. If upon its arrival it could be sold in the exchange market for $4. 80 per pound, it would yield just $7, 398. Thus it would be the equivalent of a New York check for this sum, and this sum includes the $7, 200 due as of the date of July 1st, plus $180 for interest and $18 for banker's commission.
What to read after Foreign Exchange?
You can find similar books in the "Read Also" column, or choose other free books by Albert C Albert Conser Whitaker to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
00 Number of pounds face value of return sterling bill therefore required, at rate £1 = $4. 80 £1, 54B4 I. E. , 7, 398 -4- 4. 80 = 1, 514%.
The assumptions underlying this calculation are (1) that 150 days will elapse between the drawing of the original draft and the realization or recovery of dollars in New York from the return sterling bill, and (2) that the amount 292 FOREIGN EXCHANGE realized from each pound of this return bill will be $4. 80. It happens, as already explained, that if Smith...'s original draft is sold to a banker the return bill will not in fact come to New York, but will be forwarded from Buenos Aires direct to London, for the purpose of saving time ; but to make as clear as possible the customary computation, with which we are now concerned, let us suppose for the moment that the return bill is sent to New York. If upon its arrival it could be sold in the exchange market for $4. 80 per pound, it would yield just $7, 398. Thus it would be the equivalent of a New York check for this sum, and this sum includes the $7, 200 due as of the date of July 1st, plus $180 for interest and $18 for banker's commission.
What to read after Foreign Exchange?
You can find similar books in the "Read Also" column, or choose other free books by Albert C Albert Conser Whitaker to read onlineMoreLess
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