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Assume that the 5 year annual spot rate is 14% and the 5 year annual six-month forward rate is 15%. What is the 5.5 year

Assume that the 5 year annual spot rate is 14% and the 5 year annual six-month forward rate is 15%.

What is the 5.5 year annual spot rate? Round your intermediate calculations to 4 decimal places. State your answer as a BEY, rounded to two digits.

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