The Wall Street Journal reported the following spot and forward rates for the Swiss franc ($/SF).

Spot	$	.8218
30-day forward	$	.8536
90-day forward	$	.8556
180-day forward	$	.8603

a. Was the Swiss franc selling at a discount or premium in the forward market?

	Premium
	Discount

b. What was the 30-day forward premium (or discount)? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

30-day forward premium/discount

46.43

%

c. What was the 90-day forward premium (or discount)? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

90-day forward premium/discount

%

d. Suppose you executed a 90-day forward contract to exchange 260,000 Swiss francs into U.S. dollars. How many dollars would you get 90 days hence?

Dollars for Swiss francs

$222,456

e. Assume a Swiss bank entered into a 180-day forward contract with Bankers Trust to buy $260,000. How many francs will the Swiss bank deliver in six months to get the U.S. dollars? (Round your answer to 2 decimal places.)

Swiss francs for dollars SF