5) Assume that the current term structure of interest is known. Show that the arbitrage-free forward rate between year s and year t is (1+y+)*1776 sft [% 1 S (1 + ys) 5) Assume that the current term structure of interest is known. Show that the arbitrage-free forward rate between year s and year t is (1+y+)*1776 sft [% 1 S (1 + ys)