Use the following spot and forward bid-ask rates for the U.S. dollar/Australian dollar (US$/A$) exchange rate from

Question:

Use the following spot and forward bid-ask rates for the U.S. dollar/Australian dollar (US$/A$) from December 10, 2010, to answer the following questions

a. What is the mid-rate for each maturity?
b. What is the annual forward premium for all maturities?
c. Which maturities have the smallest and largest forward premiums?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...