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Question - Assume the following information: You have $1,000,000 to invest Current spot rate of Pound = $1.30/£
90-day forward rate of Pound = $1.28/£
1-year deposit rate in U.S. = 2%
1-year deposit rate in Great Britain = 4%
Assuming no transaction costs, is there an arbitrage opportunity for a 90-day investment and if so, how much profit will you earn?
A. Yes; $6,000
B. There is no arbitrage opportunity
C. Yes; $24,000
D. Yes; $4,000
E. None of the above
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