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1. Suppose the one year forward quote for the Canadian Dollar is 0.7642 USD = 1 CAD. The spot quote is 0.7496 USD = 1

1. Suppose the one year forward quote for the Canadian Dollar is 0.7642 USD = 1 CAD. The spot quote is 0.7496 USD = 1 CAD. Canada has 7.07% one-year interest rates. If interest rate parity holds, what is the one-year interest rate in the U.S.?

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