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eBook Assume that the spot rate of the Brazilian real is $0.31. The annual U.S. Interest rate is currently 3 percent and Brazilian annual interest

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eBook Assume that the spot rate of the Brazilian real is $0.31. The annual U.S. Interest rate is currently 3 percent and Brazilian annual interest rate is currently 10 percent. Assume that interest rate parity exists. Determine the one-year forward rate of the Brazilian rea Do not round intermediate calculations. Round your answer to the nearest cent

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