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Assume that the Australian one-year interest rate is 14 percent. Also assume that the Australian dollar is expected to appreciate by 8 percent over the

Assume that the Australian one-year interest rate is 14 percent. Also assume that the Australian dollar is expected to appreciate by 8 percent over the next year against the U.S. dollar. What is the expected effective yield on a one-year deposit in Australia by a U.S. firm?

Please explain as much as you can, thank you.

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