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6. Assume the following information: CurrentspotrateofSomthAfitcanrand(Z,AR)90-dayforwardrateoftheZ.AR90-dayinterestrateintheUnitedStates90-dayinterestrateinSouthAfiica=$0.0673=$0.0668=0.5%(i.e.,notannualized)=3.0%(L.e.,notannualized) If you conduct covered interest arbitrage, what is the profit in USD you will realize after 90 days if

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6. Assume the following information: CurrentspotrateofSomthAfitcanrand(Z,AR)90-dayforwardrateoftheZ.AR90-dayinterestrateintheUnitedStates90-dayinterestrateinSouthAfiica=$0.0673=$0.0668=0.5%(i.e.,notannualized)=3.0%(L.e.,notannualized) If you conduct covered interest arbitrage, what is the profit in USD you will realize after 90 days if you bonow $1,000,000 for 90 days at an interest rate of 0.5% (not annualized)

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