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Suppose 6 0 - day investments in Britain have a 6 . 0 0 % annualized return. In the U . S . , 6

Suppose 60-day investments in Britain have a 6.00% annualized return. In the U.S.,60-day investments of similar risk have a 4.00% annualized return. In the 60-day forward market, 1 British pound equals $1.50. If interest rate parity holds, what is the spot exchange rate ($/)?

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