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The current quotes of exchange rates are as follows: 1 USD = 0.92 EUR 1 EUR = 18.21 MXN 1 USD = 16.96 MXN If
The current quotes of exchange rates are as follows:
1 USD = 0.92 EUR
1 EUR = 18.21 MXN
1 USD = 16.96 MXN
If we begin with 100 USD, conducting arbitrage would go like this:
(Round all answers to two decimal places and use the currency symbol above. For example, if you calculate 132.3454 pesos, your answer should be "132.35 MXN". If you calculate 134 dollars, your answer should include the 0's and be "134.00 USD") 100 USD would become____________
, which would then become ________________, which would then end with ______________.
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