I need help with just these two questions!

1) Suppose group quotes spot rate of Yuan 6.65/$ and 270-day forward rates of Yuan 6.71/$. What is the annualized forward discount or premium on dollar? Is dollar selling at a forward premium or discount (assume a year has 360 days)?

the answer for 1) is 1.41% forward premium but I would really like to know what equation was used and how to solve it.

2) Suppose annual inflation rates in the U.S. and Argentina are expected to be 2.0% and 23%, respectively, over the next several years. If the current spot rate for the Argentine Peso is 17.31 peso/$, then the best estimate of the Argentine peso's spot value according to purchasing power parity in 4 years.

(what equation is used and how do you solve this?)