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All rates are annual rates stated for a periodicity of one (effective annual rates). Time Period Forward Rate Oyly 0.80% lyly 1.12% 2yly 3.94% 3yly

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All rates are annual rates stated for a periodicity of one (effective annual rates). Time Period Forward Rate "Oyly" 0.80% "lyly" 1.12% "2yly" 3.94% "3yly" 3.28% "Ayly" 3.14% 38 The three-year implied spot rate is closest to: A 1.18%. B 1.94%. ( 2.28%

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