Question $3(11$ points$)$

Assume that you have $$1,000,000$ and the following exchange rates are quoted. Calculate one possible cross rate and decide whether there is an arbitrage opportunity $($explain your decision$).$ If so$,$ calculate the arbitrage profit. If not, no further calculation is necessary.

Citibank $$$$1\mathrm{.}1501/$

Barclays Bank$$ $$1\mathrm{.}2500/$

Deutsche Bank$1\mathrm{.}0869/$ Question $3(11$ points$)$

Assume that you have $\backslash (\backslash$$ $1,000,000\backslash )$ and the following exchange rates are quoted. Calculate one possible cross rate and decide whether there is an arbitrage opportunity $($explain your decision$).$ If so$,$ calculate the arbitrage profit. If not, no further calculation is necessary.