11. (15 points) Suppose that the interest rate per annum is 0.15% in the United States and 1.5% in Canada, as reported today. Based on the reported interest rates and international Fisher effect (IFE), would you predict the Canadian dollar to appreciate or depreciate against the U.S. dollar based on international fisher effect in a year? (5 points) By what percentage (10 points)? You must show your calculation. (Both the exact form and the approximate form of IFE are acceptable.) 999 (3 1 999

11. (15 points) Suppose that the interest rate per annum is 0.15% in the United States and 1.5% in Canada, as reported today. Based on the reported interest rates and international Fisher effect (IFE), vould you predict the Canadian dollar to appreciate or depreciate against the U.S. dollar based on nternational fisher effect in a year? ( 5 points) By what percentage (10 points) ? You must show your alculation. (Both the exact form and the approximate form of IFE are acceptable.)