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6. Assume the following information: Current spot rate of Peruvian sol (PEN) =$0.25 90 -day forward rate of the PEN 90-day interest rate in the

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6. Assume the following information: Current spot rate of Peruvian sol (PEN) =$0.25 90 -day forward rate of the PEN 90-day interest rate in the United States =1% (i.e., not annualized) 90-day interest rate in Peru 3% (i.e., not annualized) If you conduct covered interest arbitrage, what is the dollar profit you will realize affer 90 days if you borrow $1,000,000 for 90 days at an interest rate of 0.5% (not annualized)

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