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SOLVE IN EXCEL FORMAT Assume that interest rate parity holds. In both the spot market and the 90 -day forward market, 1 Japanese yen equals

SOLVE IN EXCEL FORMAT
Assume that interest rate parity holds. In both the spot market and the 90 -day forward market, 1 Japanese yen equals 0.0085 dollar. In Japan, 90 -day risk-free securities yield 4.7\%. What is the yield on 90-day risk-free securities in the United States? Do not round intermediate calculations. Round your answer to two decimal places. X \%

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