Suppose that the six-month interest rate in the United States is 5%, while the six-month interest rate in Britain is 6%. Further, assume the spot rate of the pound is 1.6. Given the spot rate of 1.6 of the pound, as well as the premium of -0.9434% that you calculated previously, the six month forward rate of pound should be about under IRP. Grade Step 2 TOTAL SCORE: 1/5 Suppose that the six-month interest rate in the United States is 5%, while the six-month interest rate in Britain is 6%. Further, assume the spot rate of the pound is 1.6. Given the spot rate of 1.6 of the pound, as well as the premium of -0.9434% that you calculated previously, the six month forward rate of pound should be about under IRP. Grade Step 2 TOTAL SCORE: 1/5