$3.$ Open economy $(10$ points$)$You are a U$.$S$.$ investor who considers investing money in the US or in Japan. The nominal return on a U$.$S$.$ bond is $3\%$ and the nominal return on a Japanese bond is $5\%.$ Both bonds mature in one year. The current exchange rate is $1$ Japanese Yen per $0\mathrm{.}009$ USD.$($a$)(2$ points$)$ If uncovered interest parity holds, what would you expect the exchange tate a year from now to be$?($Round your response to two decimal places.$)$Based on the financial markets, the exchange rate next year is expected to be $115$ Yen $=1$ USD. Thisis a correct expectation $($the exchange rate next year will really be $115).($b$)(1$ point$)$ Does this mean that the USD will appreciate or depreciate against JPY$?$