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In the entry forms for its contests, Publisher s Clearing House states, You may have already won $ 1 0 , 0 0 0 ,

In the entry forms for its contests, Publishers Clearing House states, You may have already won $10,000,000. If the Prize Patrol visits your house to inform you that you have won, it offers you $333,333.33 each and every year for 30 years. If the bond is 7.5% p.a. and the current spot rate is $1.08/euro,what forward exchange rate prevents covered interest rate arbitrage?

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