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Find the 3-year spot rate z3 (3-year zero-coupon bond YTM) using following information: Assume all rates are annual rates with annual compounding. Time Period Forward

Find the 3-year spot rate z3 (3-year zero-coupon bond YTM) using following information:

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Assume all rates are annual rates with annual compounding.

Time Period Forward Rate 0.80% 1.12% 3.94% 3.28% 3.14%

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