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3. Given the following bid/ask quotations, show an arbitrage strategy and show the profit that can be made if you start with 100,000 USD: USD/HKD

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3. Given the following bid/ask quotations, show an arbitrage strategy and show the profit that can be made if you start with 100,000 USD: USD/HKD SGD/HKD USD/SGD Ask 7.84952 7.84986 Bid Bid 5.68069 Ask 5.69173 Ask .37917 .37936 Bid

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