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Use the table to answer following question(s). Yen:Spot and Forward (/$) Mid Rates Bid Ask Spot 111.62 111.61 111.62 Forward Rates 1 Month 111.43 -19

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Use the table to answer following question(s). Yen:Spot and Forward (/$) Mid Rates Bid Ask Spot 111.62 111.61 111.62 Forward Rates 1 Month 111.43 -19 -18 6 Months 110.55 - 108 -106 Swaps 2 year 106.71 -493 -488 3 year 103.96 -772 -760 Refer to Table 5.1. According to the information provided in the table, the 6-month yen is selling at a forward of approximately per annum. (Use the mid rates to make your calculations.) premium; 2.09% (Yen appreciates versus USD) discount; 1.93% (Yen depreciates versus USD) discount; 2.09% (Yen depreciates versus USD) premium; 1.93% (Yen appreciates versus USD)

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