Question: What is the solution for this problem with the work shown? Toshi Numata, a foreign exchange trader at Switzerland-based Credit Suisse's (CS) office in Tokyo,

 What is the solution for this problem with the work shown? What is the solution for this problem with the work shown?

Toshi Numata, a foreign exchange trader at Switzerland-based Credit Suisse's (CS) office in Tokyo, Japan, wants to invest $2,000,000 or its yen equivalent in a covered interest arbitrage (CIA) between U.S. dollars and Japanese yen. He faces the following exchange rate and interest rate quotes: The bank does not calculate or include transaction costs on any individual transaction, because these costs are part of the overall operating budget of the arbitrage department. Explain the specific steps Toshi Numata must take (including calculations) to make a covered interest arbitrage (CIA) profit

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