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  3. 12% p.a. 16% p.a. 12. assume the following informa

12% p.a. 16% p.a. 12. Assume the following information: You have $1,000,000 to invest: Current...

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12% p.a. 16% p.a. 12. 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 3-month deposit rate in United States 3-month deposit rate in Great Britain If you use covered interest arbitrage for a 90-day investment, what will be the amount of U.S. dollars you will have after 90 days? a. $1,024,000 b. $1,030,000 c. $1,040,000 d. $1,034,000

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