-Using the table, what is 3-month forward premium or discount (expressed as an annual percentage rate) for the British pound in terms of U.S. dollars?
Definitions:
Mirror-Image Rule
A contractual principle stating that an offer must be accepted exactly without modifications for a valid contract to be formed.
Subject Matter
The specific topic, content, or issue that is under discussion or consideration in a contract or legal document.
Express Contract
An agreement with clear, explicit terms that are communicated verbally or in writing between parties.
Implied Contract
A contract that arises not from words of agreement but from the conduct of the parties.
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