Need help finding cash flow values

Last Wednesday at midnight, the President of Turkey fired 3 top officials of the Turkish Central Bank, and the value of the Turkish Lira (TRY) relative to the US Dollar (USD) immediately dropped on Thursday. Also read Turkey's Erdogan Fires Central Bank Officials from the Wall Street Journal in the Problem Set 4 folder on Compass. Turkey currently has a risk-free interest rate of 18.00%, while the US currently has a risk-free interest rate of 0.25%, both expressed on an annual basis. Use 6 decimals in all calculations and answers for this problem. a) Find the 3-month forward rate for the USD/TRY exchange rate if the current spot rate is 0.107855 USD/TRY. Is the Turkish Lira becoming more expensive or less expensive (in US Dollars) over time? (2 points) 3 month forward: 0.103174 USD/TRY b) Find the 3-month forward rate for the TRY/USD exchange rate if the current spot rate is 9.271696 TRY/USD. Is the US Dollar becoming more expensive or less expensive (in Turkish Liras) over time? (2 points) 3 month forward: 9.692393TRY/USD c) Show that the 3-month forward rates in Parts a) and b) are consistent with each other. [Hint: Recall that exchange rates express the value of one currency in terms of another currency.] (1 point) 1/9.692393 = 0.103174 d) A bank is currently quoting the 3-month forward exchange rate (buy or sell) at 9.00000 TRY/USD. Using the information above and the grid below, show how you would arbitrage this exchange rate profitably. Be sure to indicate whether each transaction is long or short (buy or sell) and to include (+) and ( ) signs on your cash flows. Begin by borrowing or lending 1 TRY or 1 USD, and show profits not losses in the same currency you used at the beginning to borrow or lend. In other words, if you start in Dollars, you must end in Dollars; if you start in Lira, you must end in Lira. Time 0 cash flows Time t cash flows Transaction USD TRY USD TRY Totals: Last Wednesday at midnight, the President of Turkey fired 3 top officials of the Turkish Central Bank, and the value of the Turkish Lira (TRY) relative to the US Dollar (USD) immediately dropped on Thursday. Also read Turkey's Erdogan Fires Central Bank Officials from the Wall Street Journal in the Problem Set 4 folder on Compass. Turkey currently has a risk-free interest rate of 18.00%, while the US currently has a risk-free interest rate of 0.25%, both expressed on an annual basis. Use 6 decimals in all calculations and answers for this problem. a) Find the 3-month forward rate for the USD/TRY exchange rate if the current spot rate is 0.107855 USD/TRY. Is the Turkish Lira becoming more expensive or less expensive (in US Dollars) over time? (2 points) 3 month forward: 0.103174 USD/TRY b) Find the 3-month forward rate for the TRY/USD exchange rate if the current spot rate is 9.271696 TRY/USD. Is the US Dollar becoming more expensive or less expensive (in Turkish Liras) over time? (2 points) 3 month forward: 9.692393TRY/USD c) Show that the 3-month forward rates in Parts a) and b) are consistent with each other. [Hint: Recall that exchange rates express the value of one currency in terms of another currency.] (1 point) 1/9.692393 = 0.103174 d) A bank is currently quoting the 3-month forward exchange rate (buy or sell) at 9.00000 TRY/USD. Using the information above and the grid below, show how you would arbitrage this exchange rate profitably. Be sure to indicate whether each transaction is long or short (buy or sell) and to include (+) and ( ) signs on your cash flows. Begin by borrowing or lending 1 TRY or 1 USD, and show profits not losses in the same currency you used at the beginning to borrow or lend. In other words, if you start in Dollars, you must end in Dollars; if you start in Lira, you must end in Lira. Time 0 cash flows Time t cash flows Transaction USD TRY USD TRY Totals