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The current interest rate on a one-year Turkish Lira deposit is 5 percent and the yen deposit rate is 1 percent. Suppose the current exchange

The current interest rate on a one-year Turkish Lira deposit is 5 percent and the yen deposit rate is 1 percent. Suppose the current exchange rate, expressed in lira per yen, is 1.5 and after a year, it is expected to rise to 1.6. Suppose you are a Turkish investor, which currency would you invest in to obtain a higher expected rate of return for the year? Show your calculation.

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