Interest Rates and Arbitrage the treasurer of a major U.S firm has $30 million to invest for

Question:

Interest Rates and Arbitrage the treasurer of a major U.S firm has $30 million to invest for three months. The annual interest rate in the United States is .48 percent per month. The interest rate in Great Britain is .57 percent per month. The spot exchange rate is £.54, and the three-month forward rate is £.53. Ignoring transaction costs, in which country would the treasurer wan to invest the company’s funds? Why?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...