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7. As of 2020, Angostura holds over US $60 million in Cash and Cash Equivalents. Assume you have US $3 million available, and the following

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7. As of 2020, Angostura holds over US $60 million in Cash and Cash Equivalents. Assume you have US $3 million available, and the following exchange rates are available to you. (You can buy or sell at the stated rates.) Mt. Fuji Bank 92.00/$ Mt. Rushmore Bank SF1.02/8 Mt Blanc Bank 90.00/SF Can you make a profit via triangular arbitrage? If so, show the steps and calculate the amount of profit in USD? 5 marks

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