I need an explaination. correct answer is provided 24. A...
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I need an explaination. correct answer is provided 
24. A currency speculator expects the spot rate of BP to change from USD 2.00 to USD 1.90 in one year. Assume the speculator has access to credit lines of USD 10,000,000 in the US and BP 5,000,000 in UK. The annual borrowing and lending rates are 2% in US and 5% in UK. If his forecast is correct, the speculator's expected profit at the end of the year will be: a USD 118,420 (6) BP 118,420 c. USD 236,840 d. BP 236,840
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