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e) An investor will invest his funds in any market to maximize profit. The one-year Malaysia interest rate is 6% and the US interest rate

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e) An investor will invest his funds in any market to maximize profit. The one-year Malaysia interest rate is 6% and the US interest rate is 10%. The spot rate of RM/US$ is RM2.9500/US$ and the one year forward rate is RM2.9640/US$. Determine whether there is any interest arbitrage opportunity or not

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