Calculate the 1-year forward rate by using yield information on 1-year and 2-year treasury rates and 2-year and 3-year treasury rates for all three years, respectively. Within each year, which 1-year implied forward rate is higher? Compare and contrast rate differences in each year. \begin{tabular}{|r|r|r|r|r|r|r|r|r|r|r|r|r|} \hline 1Mo & 2Mo & 3Mo & 6Mo & 1Yr & 2Yr & 3Yr & 5Yr & 7Yr & 10Yr & 20Yr & 30Yr \\ \hline & 0.083 & 0.167 & 0.25 & 0.5 & 1 & 2 & 3 & 5 & 7 & 10 & 20 & 30 \\ \hline 2/21/2020 & 1.6 & 1.6 & 1.56 & 1.53 & 1.43 & 1.34 & 1.3 & 1.3 & 1.39 & 1.46 & 1.75 & 1.9 \\ \hline 2/22/2021 & 0.03 & 0.02 & 0.03 & 0.04 & 0.06 & 0.11 & 0.22 & 0.61 & 1 & 1.37 & 2.02 & 2.19 \\ \hline 2/22/2022 & 0.03 & 0.2 & 0.37 & 0.73 & 1.17 & 1.56 & 1.74 & 1.85 & 1.93 & 1.94 & 2.31 & 2.24 \\ \hline \end{tabular} Yield Curves