6-month forward rate of pound=$1.82 12-month forward rate of pound=$1.78

Assume that interest rate parity (IRP) exists, along with the following information:

Spot rate of British pound = $1.80

6-month forward rate of pound=$1.82

12-month forward rate of pound=$1.78

a. Is the annualized 6-month U.S. risk-free interest rate above, below, or equal to the British risk-free interest rate?

b. Is the 12-month U.S. risk-free interest rate above, below, or equal to the British risk-free interest rate?

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