12 Table 14.1 shows the exchange rates of various currencies versus the dollar. Use the information in
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12 Table 14.1 shows the exchange rates of various currencies versus the dollar. Use the information in the table to show how you could have profited by trading currencies if the exchange rate between French francs and German marks was 3 francs per mark on January 1, 1990. Suppose that you began with 10,000 marks. Show what trades you could have made buying or selling francs, marks, and dollars to generate a profit and how much money you could make.
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