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Assume the following information: You have 400,000 CAD to invest. Current spot rate of pound = 48 CAD 1 year forward rate of the pound

Assume the following information: You have 400,000 CAD to invest. Current spot rate of pound = 48 CAD 1 year forward rate of the pound = 48.2 CAD 1 year interest rate in the Cannada = 4.0% 1 year interest rate in UK = 4.2% If you conduct covered interest arbitrage, what amount will you have after 1 year to the nearest CAD?

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