Question: If the current exchange rate is $ 1 . 6 0 / , the one - year forward exchange rate is $ 1 . 8

If the current exchange rate is $1.60/, the one-year forward exchange rate is $1.80/, and the interest rate on British government bills is 7% per year, what risk-free dollar-denominated return can be locked in by investing in the British bills? (Do not round intermediate calculations. Round your percentage answer to 2 decimal places.)

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