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The following exchange rates are available to you. (You can buy or sell at the...

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Question

Finance

The following exchange rates are available to you. (You can buy or sell at the stated rates.)

SGD/USD

1.65

USD/CHY

0.16

SGD/CHY

0.30

Assume you have an initial USD 12,000. Can you make a profit via triangular arbitrage? If so, show the steps and calculate the amount of profit in USD.

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