If the arbitrager can employ usd 1000 or its equivalent in, Financial Management

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If the arbitrager can employ usd 1000 or its equivalent in

In the London currency markets, the following quotes are available: EURUSD 1.18 and EURCAD 1.34. In the New York currency markets, we find the CAD trading at CADUSD 0.88. If the arbitrager can employ USD 1,000 (or its equivalent in another currency) toward this strategy, how much would the arbitrager end with?

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Financial Management: If the arbitrager can employ usd 1000 or its equivalent in

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