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Suppose the 1-year interest rate in Canada is 4% while in the US it is 3%. The indirect spot rate is USD / CAD =

Suppose the 1-year interest rate in Canada is 4% while in the US it is 3%. The indirect spot rate is USD / CAD = 1.02. What is the 1-year indirect term interest rate?

		USD / CAD = 1.0299
		USD / CAD = 1.0608
		USD / CAD = 1.0200
		USD / CAD = 1.0302

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