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3. You are given the following term structure of interest rates: Maturity 2 3 4 5 6 Spot Rate 7.50% 8.00% 8.50% 9.00% 9.50% 10.00%

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3. You are given the following term structure of interest rates: Maturity 2 3 4 5 6 Spot Rate 7.50% 8.00% 8.50% 9.00% 9.50% 10.00% Calculate the one-year forward rate, deferred four years, implied by this term structure (that is the annual rate for year 5)

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