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Question 16-Assume: (1) the US annual interest rate = 8.68%; (2) the Malaysian annual interest rate = 4.20%; and (3) the 89-day forward rate for

Question 16-Assume: (1) the US annual interest rate = 8.68%; (2) the Malaysian annual interest rate = 4.20%; and (3) the 89-day forward rate for the Malaysian ringgit = $0.312. At what current spot rate will interest rate parity hold (keep 4 decimals)?

If you would also show your work I would appreciate it!

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