Suppose you observe that $90$day interest rate across the eurozone is $5\%,$ while the interest rate in the U$.$S$.$ over the same time period is $1\%.$ Further, the spot rate and the $90$day forward rate on the euro are both $$1\mathrm{.}60.$

You have $$600,000$ that you wish to use in order to engage in covered interest arbitrage.

After $90$days in the bank, your $375,000$ euros will have grown to

euros $($including interest$).$