Suppose that the current spot exchange rate between the Singapore dollar (SGD) and the Australian dollar (AUD) is 0.9701

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Suppose that the current spot exchange rate between the
Singapore dollar (SGD) and the Australian dollar (AUD) is 0.9701
AUD/SGD. And, the 1-year interest rate in Singapore and Australia
are 0.96% and 2.00%, respectively.
(2A) Find the 1-year forward exchange rate for AUD/SGD
assuming that interest rate parity holds. (Show all your workings
to receive full credit. Write down your answer accurate to 4
decimal places.) [8 marks]
(2B) Assume that the forward exchange rate you had
calculated in part (a) is an unbiased predictor of future exchange
rates. Explain how you could execute a covered interest arbitrage
trade. [8 marks]
(2C) State four differences between futures contracts
and forward contracts. [8 marks]