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14. If the expected path of one-year interest rates over the next four years is 7 percent, 5 percent, 3 percent, and 1 percent, Find
14. If the expected path of one-year interest rates over the next four years is 7 percent, 5 percent, 3 percent, and 1 percent, Find the four-year bond interest rate according to the pure expectations theory prediction. 15. Government economists have forecasted one-year T-bill rates for the following four years as follows: 4.25%, 5.15%, 5.50%, 6.25% and liquidity premium of 0.25% for the next two years and 0.50% thereafter. Find the 4- year T-bond interest rate
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