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Suppose that the one-year interest rate is 3.0 percent in Italy, the spot exchange rate is 0.676 /$, and the one-year forward exchange rate is

Suppose that the one-year interest rate is 3.0 percent in Italy, the spot exchange rate is 0.676 /$, and the one-year forward exchange rate is 0.694 /$. What must one-year interest rate be in the United States?

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