Swissie Triangular Arbitrage.The following exchange rates are available to you. (You can buy or sell at the stated rates.) Assume you have an initial

SF 11,000,000.

Can you make a profit via triangular arbitrage? If so, show the steps and calculate the amount of profit in Swiss francs (Swissies).

Mt. Fuji Bank	93.83=$1.00
Mt. Rushmore Bank	SF 1.06=$1.00
Mt. Blanc Bank	91.91=SF1.00

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Part 1

Calculate the first arbitrage opportunity attempt below:(Round to the nearest cent.)

Attempt Number 1: Start with SF to $

Step 1 : SF to $

$

Step 2: $ to yen

Step 3: yen to SF

SF

Profit or Loss

Attempt Number 2: Start with SF to yen

Step 1 : SF to yen

Step 2: yen to $

$

Step 3: $ to SF

SF

Profit or Loss

SF