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3. Assume you are a Malaysian investor with MYR1,000,000 to invest. Based on bank quotations in Table 1, answer the following questions. a. Is there

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3. Assume you are a Malaysian investor with MYR1,000,000 to invest. Based on bank quotations in Table 1, answer the following questions. a. Is there any arbitrage opportunity? Support your argument with calculation. (2 marks) b. Calculate the arbitrage profit. (5 marks) Table 1: Bank Quotations Bank Currency Bid Ask A EUR/MYR 0.2375 0.2388 B SGD/MYR 0.3450 0.3505 C SGD/EUR 1.4505 1.4515

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