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U.S. interest rates for the next three years are expected to be 5 percent, 6 percent, and 7 percent, respectively. Canadian interest rates for the

U.S. interest rates for the next three years are expected to be 5 percent, 6 percent, and 7 percent, respectively. Canadian interest rates for the next three years are expected to be 3 percent, 5 percent, and 8 percent. The current Canadian spot rate is $.76. What is the approximate 3-year forecast of the Canadian dollars spot rate if the three-year forward rate is used as a forecast?

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