Hopkins Bought A 90 Day Option To Exchange 200 000 Usd For 900 000 Cedi They Pai

1. Hopkins bought a 90-day option to exchange $200,000 USD for 900,000 Cedi. They paid $8,000 USD for the option and today it has been 90 days. Locate today’s value of the Cedi at XE.com’s Live Exchange Rates and calculate how much Hopkins won or lost by purchasing the 90-day option. Explain your calculations in detail.