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The spot US dollar-euro exchange rate is $1.10/euro. The one-year forward exchange rate is $1.0782/euro. If the one-year dollar interest rate is 3%, then what

The spot US dollar-euro exchange rate is $1.10/euro. The one-year forward exchange rate is $1.0782/euro. If the one-year dollar interest rate is 3%, then what must be the one-year rate on the euro? Both rates are continuously compounded.

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