A US bank broker wants to sell four$-$month forward on USD$/$JPY to a Japanese importer. The spot rate is JPY$90/$USD $(1$ US Dollar$=90$ Japanese Yen$).$ Further, the four$-$month risk$-$free rate in Japan is $1\%$ per annum and $2\%$ per annum in the United States, both with continuous compounding. What is the approximate four$-$month forward exchange rate?

Question $9$Select one:

a$.$

JPY$89\mathrm{.}55/$USD

b$.$

JPY$90\mathrm{.}45/$USD

c$.$

JPY$89\mathrm{.}02/$USD

d$.$

JPY$89\mathrm{.}70/$USD