In the tokyo currency markets a foreign exchange dealer, Financial Management

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In the tokyo currency markets a foreign exchange dealer

In the Tokyo currency markets, a foreign exchange dealer provides the following quotes: USDJPY is quoted at a bid of 117.40 and ask of 117.50. In the New York currency markets, the same currency, USDJPY, is quoted at a bid of 117.25 and ask of 117.35. If an arbitrageur starts with $1,000, how much would he end up with?

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Financial Management: In the tokyo currency markets a foreign exchange dealer

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