The interest rate for one-year certificate of deposit at Citibank in New York is 4 percent while the interest rate for one-year certificate of deposit at Barclay Bank in London is 6 percent. The value of the British pound against the dollar one year from today will:
a) appreciate by 0.98
b) depreciate by.98 percent.
c) appreciate by 1.92 percent
d) depreciate by 1.92 percent
e) None of the above