Question: please show the working step by step. thank you. Ans: arbitrage gain: 68028.79 Assume the following quotes, calculate how a market trader at National Australian

please show the working step by step. thank you. Ans: arbitrage gain: 68028.79

Assume the following quotes, calculate how a market trader at National Australian Bank (NAB) with AUD1,000,000 can make an inter-market arbitrage profit. NAB quote: AUD/GDP (AS/): 1.8400 Bank of Scotland quote: EUR/GBP (/): 1.4600 Bayern Bank quote: AUD/EUR (AS/E): 1.1800

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