Question 1 a) Simon has obtained several forward contract quotations for the Thai baht to come whether covered interest arbitrage may be possible. He was quoted US$0.0225 per Thai baht for a 90-day forward contract. The curre Mard rate of spot rate is US$0.0229. 90-day interest rates available to him in the United States are 2.5% while ninety-day interest rates in Thailand are 6.75%. Determine the dollar profit he could IBNerate by withdrawing TB300,000 from his checking account. (10 marks)