(Exchange rate arbitrage) You own $10 comma 000. The dollar spot rate in Tokyo is 215.8906 yen/$. The yen rate in New York is given in the following table: LOADING Are arbitrage profits possible? Set up an arbitrage scheme with your capital. What is the gain (loss) in dollars? Hint: Compare the Tokyo's direct quote with the New York's indirect quote. "Assuming no transaction costs, the rate between Tokyo and New York are out of line. Therefore, arbitrage profits are possible." Is the above statement true or false? True . (Select from the drop-down menu.) The yen is cheaper in Tokyo . (Select from the drop-down menu.) The amount of yen you could buy in Tokyo for $10 comma 000 is 2135839 yen. (Round to the nearest whole number.)

Answer for the question:

(Exchange rate arbitrage) You own $10 comma 000. The dollar spot rate in Tokyo is 215.8906 yen/$. The yen rate in New York is given in the following table: LOADING Are arbitrage profits possible? Set up an arbitrage scheme with your capital. What is the gain (loss) in dollars? Hint: Compare the Tokyo's direct quote with the New York's indirect quote. "Assuming no transaction costs, the rate between Tokyo and New York are out of line. Therefore, arbitrage profits are possible." Is the above statement true or false? True . (Select from the drop-down menu.) The yen is cheaper in Tokyo . (Select from the drop-down menu.) The amount of yen you could buy in Tokyo for $10 comma 000 is 2135839 yen. (Round to the nearest whole number.)

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Explanation:

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answerjointly by the fed and by the behavior of individuals who hold money and of banks in which money is held;