Assume the current U

Answer;

Part 1)  Option  ? / $ = 0.6149

Part 2) Option - The currency with the lower interest rate will appreciate

Explanation;

Part 1)

Under Interest Rate Parity Theory,

90 Days Forward Rate = Spot Rate x [ ( 1+ home currency rate) / (1 + Foreign currency rate)

here,

Spot rate : ? / $ = 0.6134 or $1 = ? 0.6134

Home currency = ?

Foreign Currency = $

90 days interest rate(US dollar) = 2.5% x 90 Days / 360 Days = 0.625%

90 days interest rate(British pound) = 3.5% x 90 Days / 360 Days = 0.875%

So,

90 Days Forward Rate = 0.6134 x [ ( 1+0.875%) / (1 +0.625%)

90 Days Forward Rate = 0.6134 x 1.00875 / 1.00625

90 Days Forward Rate = 0.61876725 / 1.00625

90 Days Forward Rate = 0.614924 or 0.6149

90 Days Forward Rate =  ? / $ = 0.6149 or $1 = ? 0.6149

Part 2 )

The currency with the lower interest rate will appreciate

Reason -

As per Part 1

interest rate in British is higher than that in the US, the ? will Depriciate against USD.