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9.* Suppose that three-month interest rates annualized) in Japan and the United States are 7 percent and 9 percent, respectively. If the spot rate is

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9.* Suppose that three-month interest rates annualized) in Japan and the United States are 7 percent and 9 percent, respectively. If the spot rate is 142:$1 and the 90-day forward rate is 135:$1: a. Where would you invest? b. Where would you borrow? c. What is the arbitrage profit if any? | d. What arbitrage opportunity do these figures present

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