1. You need a loan in currency Z for a very profitable opportunity in country Z. However, that country only allows z-nationals to borrow/lend inside their country. Find a synthetic to a z-denominated loan of Z300,000. If /$=75, /$=80, $ = 38%, what iZ would allow no arbitrage from Z-nationals? find all the inflows and outflows (actual numbers) involved in the synthetic. (The numbers for this problem come from Argentina and their peso)

iZ = interest rate for Argentina (home country) , in other words what interest rate for the home country would allow no arbitrage