Calculate annual forward premium-discount

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Using the following exchange rates between US$ and Australian $, calculate annual forward premium/discount.

Period

 Exchange Rate ($/€)

Spot

 1.2200

2 month

1.2216

4 months

1.2219

12 months

1.2261

The 12-month forward premium/discount is how much in %? (Please keep the sign and at least two decimal numbers.)

Reference no: EM133074651

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