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7) (4 pts) If your bank quotes you the following rates on the EUR:USD and...

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7) (4 pts) If your bank quotes you the following rates on the EUR:USD and NZD:USD, which currency pair has the higher transaction cost and how do you know? EUR USD has a higher transaction cost because@buying Price of Euto Pes EUR:USD (means the number of US$ per Euro) NZD:USD (means the number of US$ per NZD) EUR USD = 3.14% N20:00-W 2% ASK Bid Ark Bld 1.174 0.662 Ask 1.212 0.691 Buying Me selling dollaris higher

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