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24. You decide to try the carry trade. The one-year interest rate in Japan is 9 % and 15 % in the UK. The spot

24. You decide to try the carry trade. The one-year interest rate in Japan is 9 % and 15 % in the UK. The spot rate is 1.6 / . You borrow 5 million for one year. If the spot rate in one year is 1.4831 / , what are your profits / losses ?

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