1. Assume the following information: You have $1,000,000 to invest Current spot rate of pound $1.30 90-day forward rate of pound = $1.28 3-month deposit rate in U.S. 3% 3-month deposit rate in Great Britain 4% Given this information, does the interest rate parity hold? Why? (0.3 points) If you use covered interest arbitrage for a 90-day investment, what will be the amount of dollars you will have after 90 days? (0.3 points)