4. Pure expectations theory: Three-year bonds Dmitri would like to invest a certain amount of money for three years and considers investing in a one-year bond that pays 6 percent. Dmitri would then like to boy a second one-year bend that is expected to pay the one-year forward rate one year from now, and finaly a third one-year bond that is expectod to pay the onn-year forward rate two years from now. (Hint: Assume that 2-year bonds and 3 -year bonds both yieid biooo?.) If the annualized interest rate on a three-year bond is 8 percent, the forward rate of a one-year security beginning two years from now is percent