Suppose that American banks offer a $2\mathrm{.}67\%$ annual interest rate $($i$$)$ on a US

dollar deposit account, and Eurozone banks offer a $5\%$ annual interest rate $($i$)$ on a euro

deposit account. Let the dollar$-$euro spot exchange rate $($E$$/)$ be $1\mathrm{.}35$ and the $12-$month

dollar$-$euro forward exchange $($F$$/)$ rate be $1\mathrm{.}32.$