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Let the six-month interest rate be 3% in UK, the spot rate be $1.25/, and the six-month forward rate be $1.20/. Assume the IRP condition

Let the six-month interest rate be 3% in UK, the spot rate be $1.25/, and the six-month forward rate be $1.20/. Assume the IRP condition holds. Find the six-month interest rate in the U.S.

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