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You notice the 9-month (ie 274 days) interest rate in the UK is 4.45%pa, whilst the interest rate in the US is 2.25%pa for the

You notice the 9-month (ie 274 days) interest rate in the UK is 4.45%pa, whilst the interest rate in the US is 2.25%pa for the same period. You also note that the GBP/USD is 1.2781 and that the 9-month forward rate is 1.2544. Using the appropriate day count convention for each country, what profit, to two decimal places, can you lock in without any risk if you borrow 10m in the appropriate currency?

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