The treasurer of a major U. S. firm has $29 million to invest for three months. The interest rate in the United States is. 29 percent per month. The interest rate in Great Britain is. 33 percent per month. The spot exchange rate is £.629, and the three-month forward rate is £.632. What would be the value of the investment if the money is invested in the U. S. and in Great Britain?
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