Two currency dealers gave me the following rates. Dealer A: 0.80 pounds/euro 1.50 dollars/pound Dealer B: 0.85 euro/doll

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answerhappygod
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Two currency dealers gave me the following rates. Dealer A: 0.80 pounds/euro 1.50 dollars/pound Dealer B: 0.85 euro/doll

Post by answerhappygod »

Two currency dealers gave me the following rates.
Dealer A: 0.80 pounds/euro
1.50 dollars/pound
Dealer B: 0.85 euro/dollar
I can borrow up to 5 million British pounds. If I borrow the full
amount (5 million
pounds) and first convert them into euro, then convert my euros
into dollar, and then
finally convert my dollars back into pounds, will I make money
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