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9 Cards in this Set
- Front
- Back
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Ratio
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a comparison, by division, of two or more quantities.
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Terms
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components of the ratio separated by division.
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Equivalent ratio
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terms in a ratio multiplied or divided by the same number
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Proportion
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a statement of the equality of two ratios
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Exchange rate
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between two currencies; the amount of one currency required to purchase one unit of the other currency
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Mid-rate
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the exchange rate if there is no charge for providing the currency conversion service.
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sell rate
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the rate at which the bank will sell you the foreign currency
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buy rate
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the price at which the bank will buy the currency from you
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Spread
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difference between the sell and bbuy rates
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