You have $39,000 and observe the following exchange rates:

Exchange rate	Bid	Ask
Value of euro in U.S. dollars	$1.16	$1.17
Value of Swiss franc in U.S. dollars	$1.01	$1.02
Value of euro in Swiss francs	CHF1.1	CHF1.11

Attempt 1/5 for 10 pts.

Part 1

Is there an arbitrage opportunity? If so, what should you do to exploit it?

No

Yes: buy Swiss francs with euros

Yes: buy euros with Swiss francs

Submit

Attempt 1/10 for 10 pts.

Part 2

What is your profit from exploiting the opportunity once (in $)?

Submit