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The following exchange rates are available to you. (You can buy or sell at the stated rates.) Starting with $10,000, can you make a profit
The following exchange rates are available to you. (You can buy or sell at the stated rates.)
Starting with $10,000, can you make a profit via triangular arbitrage? If so, show the steps and calculate the amount of profit in $.
HSBC 1.0990/$
Barclays 0.8999/
Citibank 1.2190/$
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