The interest rate in UK is 3% per annum and the interest rate in the US is 2% per annum. The spot exchange rate is $1.20 per pound. What is the future spot rate one year later that will make a speculators profit zero? Assume the speculator borrows $100 in the US and invests in UK.

		$1.8725 per pound
		$1.8884 per pound
		$1.8902 per pound
		$1.8927 per pound