In the london currency markets the following quotes are, Financial Management

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In the london currency markets the following quotes are

In the London currency markets, the following quotes are available: EURUSD 1.18 and EURCAD 1.34. In the New York currency markets, we find the CAD trading at CADUSD 0.88.

If the arbitrager can employ USD 1,000 (or its equivalent in another currency) toward this strategy, how much would the arbitrager end with?

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