64. (a)Assume the following information:

i.You have $900,000 to invest

ii.Current spot rate of Australian dollar (A$) is $0.62

iii.180-day forward rate of the Australian dollar is $0.64

iv.180-day interest rate in the U.S. is 3.5%

v.180-day interest rate in Australia is 3.0%

What is the arbitrage profit (in percentage points) obtainable after 180 days from covered interest arbitrage?

A. 3.5% B. 6.32% C. 2.82% D. 2.72%

answer is B, how do you solve it