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Assume that interest rate parity holds. In the spot market 1 Japanese yen = $0.0088200, while in the 90-day forward market 1 Japanese yen

Assume that interest rate parity holds. In the spot market 1 Japanese yen = $0.0088200, while in the 90-day forward market 1 Japanese yen $0.0088215. In Japan, 90- day risk-free securities yield 2%. What is the yield on 90-day risk-free securities in the United States? Do not round intermediate calculations. Round your answer to two decimal places.

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