Assume the following information:

U.S. investors have $1,000,000 to invest

1-year deposit rate offered on U.S. dollars = 12%

1-year deposit rate offered on Singapore dollars = 10%

1-year forward rate of Singapore dollars = $.412

Spot rate of Singapore dollar = $.400

a-Does interest party exist?

b-Calculate the yield of the U.S. investors in the US and Singapore

c-Where will the US investor invest?