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22) Suppose you observe the following exchange rates: 1 = $.85; 1 = $1.60; and 2.00 11.00. Starting with $1,000,000, how can you make money?

22) Suppose you observe the following exchange rates: 1 = $.85; 1 = $1.60; and 2.00 11.00. Starting with $1,000,000, how can you make money? Exchange $1m for 625,000 at 1 = $1.60. Buy 1,250,000 at 2 = 1.00; trade for $1,062,500 at 1 = $.85 62's

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