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Suppose that the one-year interest rate is 3.0% in Italy, the spot exchange rate is $1.60/Euro, and the one-year forward exchange rate is $1.58/Euro. What

Suppose that the one-year interest rate is 3.0% in Italy, the spot exchange rate is $1.60/Euro, and the one-year forward exchange rate is $1.58/Euro. What must the one-year interest rate be in the United States? Enter percent, round to 2 decimal places. For example, if the raw answer is 0.02345 then this is 2.345% and input 2.35 into Bb.

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