One year interest rates are 12% in Brazil and 4% in the United States. The current exchange rate between the Brazilian real and the dollar is 2.25...

One year interest rates are 12% in Brazil and 4% in the United States. The current exchange rate between the Brazilian real and the dollar is 2.25 real per dollar. If there is interest rate parity, what must investors expect the real per dollar exchange rate will be one year from now?