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7. [2 marks] The following exchange rates were being quoted on the currency website http: //oanda.com. selll buy EUR USD CAD GBP EUR 1.00000 1.1320

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7. [2 marks] The following exchange rates were being quoted on the currency website http: //oanda.com. selll buy EUR USD CAD GBP EUR 1.00000 1.1320 1.48162 0.78520 USD 0.80977 1.00000 1.31971 0.59335 CAD 0.66926 0.82858 1.00000 0.47292 GBP 1.42669 1.57326 2.0326 1.00000 Unfortunately, some of the prices have been mistyped. The result is that the quoted prices imply an arbitrage opportunity. Starting with US$10000, show how you could make a profit with just three trades, assuming no broker charges

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