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Suppose that S = $ 1 . 1 0 4 5 / . The annualized inflation rates are 2 . 6 % and 1 .

Suppose that S = $1.1045/. The annualized inflation rates are 2.6% and 1.75% in the U.S and Germany, respectively. Find the exact expected currency movement for the euro in 5 years. Do not write any symbol. Express your answers as a percentage. Make sure to round your answers to the nearest 100th decimal points. For example, write 2.45 for 2.45%.

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