3) Given this information, is triangular arbitrage possible? If so, explain the steps that would reflect triangular arbitrage, and compute the profit from this strategy if you had $1,000,000 to use. (5%) 4) What market forces would occur to eliminate any further possibilities of triangular arbitrage? (3%) C. (8%) The one-year interest rate in New Zealand is 6 percent. The one-year U.S. interest rate is 10 percent. The spot rate of the New Zealand dollar (NZS) is $.50. The forward rate of the New Zealand dollar is $.53. 5) Is covered interest arbitrage feasible for U.S. investors? Explain why covered interest arbitrage is or is not feasible. (4%) inutitor? Fynlain why covered interest arbitrage is or is not feasible. (4%) 3) Given this information, is triangular arbitrage possible? If so, explain the steps that would reflect triangular arbitrage, and compute the profit from this strategy if you had $1,000,000 to use. (5%) 4) What market forces would occur to eliminate any further possibilities of triangular arbitrage? (3%) C. (8%) The one-year interest rate in New Zealand is 6 percent. The one-year U.S. interest rate is 10 percent. The spot rate of the New Zealand dollar (NZS) is $.50. The forward rate of the New Zealand dollar is $.53. 5) Is covered interest arbitrage feasible for U.S. investors? Explain why covered interest arbitrage is or is not feasible. (4%) inutitor? Fynlain why covered interest arbitrage is or is not feasible. (4%)