If the U$.$S$.$ dollar$-$British pound exchange rate is $$1\mathrm{.}30$ per pound, and the U$.$S$.$ dollar$-$euro exchange rate is $$1\mathrm{.}12$ per euro:

Instructions: Enter your response rounded to the nearest two decimal places.

a$.$ The pound$-$per$-$euro rate is

pounds $()$ per euro $().$

b$.$ If the pound$-$per$-$euro rate were above this rate, you could profit by converting dollars to euros $vv,$ euros to pounds $,$ and then

pounds to dollars $v$

pounds to euros $$

$.$ If the pound per eurp rate were below this rate, you could make a profit by converting

dollars to pounds