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Assume the current interest rate on a one-year Treasury bond (R11) is 5.00 percent, the current rate on a two-year Treasury bond (R21) is 5.75

Assume the current interest rate on a one-year Treasury bond (R11) is 5.00 percent, the current rate on a two-year Treasury bond (R21) is 5.75 percent, and the current rate on a three-year Treasury bond (R31) is 6.25 percent. If the unbiased expectations theory of the term structure of interest rates is correct, what is the one-year interest rate expected on Treasury bills during year 3, f13

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