1. You run a hedge fund with a line of credit that allows you to borrow $100 million at an annual interest rate of 5%. The minimum amount of time that you can borrow for is one day. There are 365 days in a year. The spot rate for a euro is $1.20. The spot rate for a yen is $0.0094. The spot rate between yen and euros is 125/. Which currencies should you buy or sell to take advantage of arbitrage opportunities? How much money can you make in one roundtrip in one day if prices dont change?