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24. You decide to try the carry trade. The one-year interest rate in the US is 5 % and 11 % in Japan. The spot

24. You decide to try the carry trade. The one-year interest rate in the US is 5 % and 11 % in Japan. The spot rate is $1.20 / . You borrow $5 million for one year. If the spot rate in one year is $1.1741 / , what are your prots / losses ?

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