A hedge fund manager has 5000000 to invest in the foreign, Finance Basics

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A hedge fund manager has 5000000 to invest in the foreign

Question: A hedge fund manager has $5,000,000 to invest in the foreign currency market. The dollar-euro exchange rate is quoted as $1.1/€ and the dollar-pound exchange rate is quoted at $1.25/£. If a bank quotes a cross rate of €1.20/£, how much money can he make (in terms of dollars) via triangular arbitrage? Round intermediate steps to four decimals and your final answer to two. Do not use the dollar sign when entering your answer

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Finance Basics: A hedge fund manager has 5000000 to invest in the foreign

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