On March 11, 20XX, the existing or current (spot) one-year, two-year, three-year, and four-year zero-coupon Treasury security rates were as follows:

1 R 1  = 4.75%,    1 R 2  = 4.95%,    1 R 3  = 5.25%,    1 R 4  = 5.65%

Using the unbiased expectations theory, calculate the one-year forward rates on zero-coupon Treasury bonds for years two, three, and four as of March 11, 20XX. (LG 2-8)

AppendixLO1