Final answer:
The bid-ask spread for the AUD/USD currency pair in percentage terms is about 0.02%, which is calculated by subtracting the bid price from the ask price, dividing by the ask price, and multiplying by 100.
Step-by-step explanation:
The question is asking to calculate the bid-ask spread in percentage terms for the currency pair AUD/USD, given the quote 0.69915/31.
To find the bid-ask spread, we subtract the bid price from the ask price and then divide by the ask price. We can then multiply by 100 to get the percentage.
Spread = (Ask - Bid) / Ask * 100%
Spread = (0.69931 - 0.69915) / 0.69931 * 100%
Spread = 0.00016 / 0.69931 * 100%
Spread ≈ 0.0229%
Therefore, the closest answer to the bid-ask spread in percentage terms is 0.02%, which corresponds to option c).