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Consider the following spot interest rates for maturities of one, two, three, and four years. r1 = 6.4% r2 = 7.0% r3 = 7.7% r4

Consider the following spot interest rates for maturities of one, two, three, and four years. r1 = 6.4% r2 = 7.0% r3 = 7.7% r4 = 8.5% 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.)

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