There is zero transactions costs.

U.S. one-year interest rate is 4%

Singapore one-year interest rate is 6%.

The spot rate of the Singapore dollar is $.765

The one-year forward rate of the Singapore dollar is $.8125

a. Determine whether interest rate parity exists, or whether the quoted forward rate is quoted too high or too low

b. Based on the information provided in (a), is covered interest arbitrage feasible for U.S. investors, for Singapore investors, for both types of investors, or for neither type of investor?

Please explain in detail