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Marcela is a foreign exchange trader at Big International Bank. She is interested in pursuing a covered interest arbitrage opportunity. Using the following quotes, what

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Marcela is a foreign exchange trader at Big International Bank. She is interested in pursuing a covered interest arbitrage opportunity. Using the following quotes, what would Marcela's CIA profit or loss be if she borrowed $1 million in US dollars for three months, and invested it in a Danish kroner interest bearing account for three months? Submit your answer with two decimal places. Your answer should be in US$, but do not include the sign, Spot exchange rate kr 6.1720/$ 3 month forward rate kr 6.1980/5 U.S. dollar three month interest rate 4.00% per annum Danish kroner three month interest rate 6.00% per annum

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