On day $1,$ convert the $$800,000$ to $($enter a whole number$)$ at the current spot rate of $$1\mathrm{.}60/$pound and deposit the pound in a British bank to earn a $90-$day interest rate of $4\%.$

Also on day $1,$ anticipating that you will have $$ including interest in $90$ days from your British deposit, you $($please enter buy or sell$)$ that amount of pound $90$ days forward with a forward rate of $$1\mathrm{.}60$ to have your position "covered". Otherwise, you know how much $U.S.$ dollar you will end up with at the mercy of future exchange rate. If British pound depreciates $($please enter depreciates or appreciates$),$ you will get less U$.$S$.$ dollar.

In $90$ days when the deposit matures, you can fulfill your forward contract obligation by converting your pound into: $($please enter a whole number$)$

The rate of return for your investment is $\%($enter a whole number$),$ higher than the $2\%$ you would get if you invested in the U$.$S$.$