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Question 7 5 pts Following information in provided for annual interest rates Currency Lending Rate Borrowing Rate U.S. Dollar ($) 6.73% 7.20% Euro () 6.80%

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Question 7 5 pts Following information in provided for annual interest rates Currency Lending Rate Borrowing Rate U.S. Dollar ($) 6.73% 7.20% Euro () 6.80% 7.28% The current spot rate of the euro is $1.13. XYZ Bank expects the spot rate of the euro to be $1.10 in 90 days. XYZ Bank can borrow either $20 million or 20 million. How much dollar profit will XYZ Bank's make from speculating, if the spot rate of the euro is indeed $1.10 in 90 days? $980.245. $583,800 $588.200 $584.245 5579.845

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