You observe the following current rates: - the spot exchange rate today : AU$3.0 per euro, - the (one-year) nominal interest rate on bank deposits in Germany: i(euro) = 3%, - the expected the spot exchange rate in one year: AU$3.06 per euro, - the expected annual inflation rate in Germany: pi(euro) = 2%. Assume that the uncovered interest parities hold, and there are no transaction costs. Using the uncovered interest parity with approximation, calculate the one-year nominal interest rate on bank deposits in Australia.