Intro New York Greater Bank is a U.S. investment bank that wants to benefit from the interest rate differential between the euro area and Japan. A euro () costs $1.07 today, while a yen () costs $0.0097 today. The fund expects the exchange rates to still be $1.07 per euro and $0.0097 per yen in 11 months. Current annual interest rates are as follows: Currency Borrowing rate Lending rate Euro 7.4% 6.7% Yen 4.9% 4.2% The bank doesn't want to invest any of its own money, but can borrow 10,000,000 or 1,000,000,000. Assume there are 30 days in every month and 360 days per year. Ignore compounding when working with the interest rates. Attempt 1/5 for 10 pts. Part 1 Should the bank borrow euros or yen? 0 Yen O Euros Submit Part 2 - Attempt 1/10 for 10 pts. What is the value of one euro in yen? 0+ decimals Submit Part 3 | Attempt 1/10 for 10 pts. What is the value of the borrowed amount in euro? 0+ decimals Submit Part 4 | Attempt 1/10 for 10 pts. What is the value of the invested amount after 11 months (in euro)? 0+ decimals Submit Part 5 - Attempt 1/10 for 10 pts. What is the value of loan, including principal and interest, after 11 months (in yen)? 0+ decimals Submit Part 6 Attempt 1/10 for 10 pts. What is the expected value of euros required to pay off the yen loan and interest (in euros): 0+ decimals Submit Part 7 - Attempt 1/10 for 10 pts. What is the expected profit from the transaction (in euros)? 0+ decimals Submit - Attempt 1/10 for 10 pts. Part 8 What is the expected profit from the transaction (in $)? 0+ decimals Submit