Question $17(1$ point$)$

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The spot exchange rate is $12\mathrm{.}4138$ South African Rand per U$.$S$.$ dollar, the U$.$S$.$ riskfree interest rate is $7\%$ per year, and the one$-$year forward exchange rate is $12\mathrm{.}1100$ South African Rand per U$.$S$.$ dollar. If interest rate parity holds, what is the South African risk$-$free interest rate?

$3\mathrm{.}9120\%$

$4\mathrm{.}3814\%$

$6\mathrm{.}1556\%$

$5\mathrm{.}4960\%$

$4\mathrm{.}9072\%$