The covered interest rate parity holds in an approximated, Financial Management

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The covered interest rate parity holds in an approximated

Suppose that the interest rate over a year is 2% in U.S. and 3% in England. If the current spot rate of British pound is ($/£)1.6, and the covered interest rate parity holds in an approximated form, what should be the 1-year forward rate of British pound?

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