An investor is examining exchange rates in London and New York. For simplicity, all rates are quoted versus the U.S. dol

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An investor is examining exchange rates in London and New York.For simplicity, all rates are quoted versus the U.S. dollar. In NewYork: the British pound rate is $1.57, the euro rate is $1.48, theCanadian dollar rate is 0.74 Canadian dollar, and the Yen rate is108 Yen.
In London: the British pound rate is $1.61, the euro rate is$1.44, the Canadian dollar rate is 0.77 Canadian dollar, and theYen rate is 110 Yen.
If you were looking to buy Yen, where would you buy it?
London
Either New York or London
New York
An investor is examining exchange rates in London and New York.For simplicity, all rates are quoted versus the U.S. dollar. In NewYork: the British pound rate is $1.57, the euro rate is $1.48, theCanadian dollar rate is 0.74 Canadian dollar, and the Yen rate is108 Yen.
In London: the British pound rate is $1.61, the euro rate is$1.44, the Canadian dollar rate is 0.77 Canadian dollar, and theYen rate is 110 Yen.
What is the Canadian dollar/British pound cross rate inLondon?
0.81
1.16
1.24
0.86