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Consider the following spot interest rates for maturities of one, two, three, and four years. r 1 = 6.2% r 2 = 6.7% r 3

Consider the following spot interest rates for maturities of one, two, three, and four years.

r1 = 6.2% r2 = 6.7% r3 = 7.4% r4 = 8.2%

What are the following forward rates, where f1, k refers to a forward rate for the period beginning in one year and extending for k years? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

f1,1 %

f1,2 %

f1,3 % hint Use the equation (1 + r1)(1 + f1, k)k = (1 + rk+1)k+1 to solve for f1, k.

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