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Assume the following information (rates are actual 90-day interest rates, not annualized): Spot rate of Canadian dollar $0.900 90-day forward rate of Canadian dollar $0.890

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Assume the following information (rates are actual 90-day interest rates, not annualized): Spot rate of Canadian dollar $0.900 90-day forward rate of Canadian dollar $0.890 90-day Canadian interest rate 3.50% 90-day U.S. interest rate 2.30% Given this information, the yield (percentage return) to a U.S. investor who used covered interest arbitrage would be_% (assume the investor invests $1 million), The yield (percentage retum) to a Canadian investor who used covered interest arbitrage would be O 0.15; 0.15 0 -0.15; 0.15 O 0.15;0.05 -0.05: -0.05

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