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Your client has been offered a money market security with a par value 1000 that matures in one year in the UK market. The current

Your client has been offered a money market security with a par value 1000 that matures in one year in the UK market. The current price on the market is 946. The current exchange rate (S0) is 1.46 $/. You also know that one year from now the exchange rate will be at 1.44 $/. What is the effective yield of this security if your client holds the bond until maturity? For example, if you find that effective interest rate is 5.28 percent, type "5.28" in the box

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