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60%
drunk
22. The spot Yen/US$ exchange rate is Yen119.795/US$ and the one year forward rate is Yen114.571/US$. If the annual interest rate on dollar CDs is 6%, what would you expect the annual interest rate to be on Yen CDs?
It is: 95% = 19/20 in its lowest terms
It is normally higher than the US prime interest rate.