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Assume the current interest rate on a 1 - year Treasury bond ( 1 R 1 ) is 6 . 1 0 percent, the current

Assume the current interest rate on a 1-year Treasury bond (1R1) is 6.10 percent, the current rate on a 2-year Treasury bond (1R2) is 6.85 percent, and the current rate on a 3-year Treasury bond (1R3) is 8.10 percent. If the unbiased expectations theory of the term structure of interest rates is correct, what is the 1-year forward rate expected on Treasury bills during year 3,3f1?
Note: Do not round intermediate calculations. Round your percentage answer to 2 decimal places (i.e.,0.1234 should be entered as 12.34).
Expected forward rate
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