a$)$ The spot price of the british pound is currently $$1\mathrm{.}30.$ If the risk.free interest rate on a $1-$year government bond is $1\%$ in the united states and $2\%$ in the united kingdom, what must be the forward price of the pound for delivery one year from now? b$)$ How could an investor make risk$-$free arbitrage profits if the forward price where higher then the price you gave in answer to part $($a$).?$