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A european investor can earn a 6% annual interest rate in Europe or 3% per year in the United States. If the spot exchange rate

A european investor can earn a 6% annual interest rate in Europe or 3% per year in the United States. If the spot exchange rate is $1.2250 per euro, at what one year forward rate would an investor be indifferent between the U.S. and European investments?

Ans: $1.1903, need to know how to get this answer

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