Answer:

0.1452

.6 The term structure of effective annual yield rates for zero coupon bonds is given as follows: 1- and 2-year maturity, 10%; 3- and 4-year maturity, 12%. You are given the price of a 5-year bond with face amount 100 , and annual coupons at rate 5% is 73.68 . Find the 4-year forward effective annual interest rate (in effect for the 5th year)