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19. If the two-year interest rate today is 2% and the three-year rate is 3%, then the implied 1-year forward rate in two years is:

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19. If the two-year interest rate today is 2% and the three-year rate is 3%, then the implied 1-year forward rate in two years is: a) 5.03% b) 4.04% c) 3.00% d) 2.50% e) 1.00%

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