US interest rates are 2% and interest rates in Germany are 5%. Current exchange rate S$/e = $1.17/. The one-year forward rate (F$/e) = $1 15/.. Does interest rate parity hold? If not, how can you take advantage of this to make a risk-free profit? Be specific. State in which currency you will borrow/invest and compute the risk-free profit from your investment strategy. Assume that you will borrow/invest the equivalent of $1,000