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= 1) Given the following information: Spot rate today of Swiss franc = $0.62 1-year forward rate as of today for Swiss franc = $0.65

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= 1) Given the following information: Spot rate today of Swiss franc = $0.62 1-year forward rate as of today for Swiss franc = $0.65 Rate on 1-year deposits denominated in Swiss francs -9% Rate on 1-year deposits denominated in U.S. dollars = 11% Suppose a U.S. investor has $1,000,000 to invest. By engaging in covered interest arbitrage, what is the percentage yield on the investment? percent

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