Assume the current U. S. dollar-British spot rate is 0.6993£/$. If the current nominal one-year interest rate in the U. S. is 5% and the comparable rate in Britain is 6%, what is the approximate forward exchange rate for 360 days? Select one: a. £0.6993/$ b. £0.7060/$ c. £1.42/$ d. £1.43/$
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