12pts pts CIA PROFIT 7 Annual interest rates in Brazil is 14 0 and in the USA is 4 0 The spot rate is $0 2440 Real A bank is offering a 180 day forward rate quote of $0 23360 Real Interest rate parity shows the correct forward rate is $0 23260 Real Calculate the potential covered interest arbitrage profit if you initially borrow 50,000,000 units of currency Answer to nearest whole currency unit

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<12pts pts CIA PROFIT 7. Annual interest rates in Brazil is 14.0% and in the USA is 4.0% The spot rate is $0.2440/Real. A

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