How much money can an astute trader make, Finance Basics

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How much money can an astute trader make

Problem

You are a U.S.-based treasurer with*$1,000,000 to invest. The euro-dollar exchange rate is quoted as $1.40 = €1.00 and the pound-donar exchange rate is quoted as $1.65 = £1.00. If a bank quotes you a cross rate of £1 .00 = €1.20, how much money can an astute trader make?

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