Use the following information to answer questions 9 and 10

Assume the following information: Spot rate today(14.3.2022) of Swiss franc

$1.06

1-year forward rate as of today for Swiss franc

$1.08

Expected spot rate 1 year from now

$1.09

Rate on 1year deposits denominated in Swiss francs

7%

Rate on 1year deposits denominated in U.S. dollars

5%

9.From the perspective of U.S. investors with $1,000,000 is there a chance for covered interest arbitrage?

10.Compare the rate of return of investing in the US and investing in Switzerland and determine where the US investor will choose to invest