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Martin Balinsky, a foreign exchange trader at Credit Suisse (Warsaw), is exploring covered interest arbitrage possibilities. He wants to invest $10,000,000, or its zloty equivalent,
Martin Balinsky, a foreign exchange trader at Credit Suisse (Warsaw), is exploring covered interest arbitrage possibilities. He wants to invest $10,000,000, or its zloty equivalent, in a covered interest arbitrage between U.S. dollars and Polish zloty. He faces the following exchange rate and interest rate quotes. What is the value of his position at the end? State all amounts in whole numbers, except for the rates which should be to two decimal places
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