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the spot rate is 1.4823 USD/GBP , one-year forward rate is 1.5249 USD/GBP , the...

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Finance

the spot rate is 1.4823 USD/GBP , one-year forward rate is 1.5249 USD/GBP , the one-year US interest rate is 3.1%, and the UK one-year interest rate is 1.3%. What arbitrage profit is possible using covered interest arbitrage , if you begin with $15 million?

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