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2. Covered Interest Arbitrage.Assume the following information:Spot rate of Mexican peso = $.100180day forward rate of Mexican peso = $.099180day Mexican interest rate = 6%180day U.S. interest rate = 4%Given this information, is covered interest arbitrageworthwhile for Mexican investors who have pesos to invest? Explainyour answer. Assume you have 1,000,000 Pesos to invest (MXP).SHOW WORK
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