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Please show all work Suppose the following 1-year interest rates and spot rate are true: USDO.136/CNY i(China)= 7.42% i(USA)=2.31% and also assume that covered interest

image text in transcribed Please show all work

Suppose the following 1-year interest rates and spot rate are true: USDO.136/CNY i(China)= 7.42% i(USA)=2.31% and also assume that covered interest parity holds. Calculate the 1-year forward rate expressed as USD/CNY. Round your answer and intermediate steps to four decimal places. Do not label your answer. Remember to convert the above interest rates to decimal form

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