e. Using the forward exchange information from Table 3, calculate the return on 90-day securities in England, if the rate of return on 90-day securities in the U.S. is 4.9%? Applying interest rate parity, ye can determine the return on 1-year securities in England. TABLE 3 Forw ard exchange rates for the British pound Foryard Rates Spot Rate 30 days 90 days 180 days British Pound 0.52440 0.5242 0.5237 0.5231 Using our knowledge of interest rate parity, the following problem is set up. spot exchange rate [direct quotation] = forward exchange rate [direct quotation] = home nominal interest rate =quad4.9% time to maturity on securities (in ye quad0.25 home periodic interest rate = I [spot eschange rate] = [1+r,]{} 1