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QUESTION 13 At Bank A, the yen-dollar exchange rate is JPY120/USD. At Bank B, the dollar-euro exchange rate is USD1/EUR. At Bank C, the yen-euro

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QUESTION 13 At Bank A, the yen-dollar exchange rate is JPY120/USD. At Bank B, the dollar-euro exchange rate is USD1/EUR. At Bank C, the yen-euro exchange rate is: JPY123/EUR. What is the net profit if a dealer starts with USD1,000,000? The dealer cannot make a profit. $24,390 $25,000 None of the answers is correct

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