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1.5 On 9/12/2017, a foreign exchange website gave the following exchange rates: one USD = .84 Euros; one Euro .90 GBP; one GBP = 1.33

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1.5 On 9/12/2017, a foreign exchange website gave the following exchange rates: one USD = .84 Euros; one Euro .90 GBP; one GBP = 1.33 USD. Show that, if taken literally, these imply the existence of an arbitrage. Then explain why there is probably not, in practice, a useful arbitrage

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