Q5.17. Compute the three-year holding rate of return on December 31, 2004. Then, using the two-year holding rate of return on December 31, 2004, of 5.23% and your calculated three-year holding rate of return, compute the forward interest rate for a one-year investment beginning on December 31, 2006, and ending on December 31, 2007. Are these the numbers in Exhibit 5.3?