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Given the Term Structure below: 1year=3%2years=4.6%3years=5.9%4years=6.6%5years=7.7% Based on the expectations hypothesis, what does the market expect the 1 year rate in 4 year to be?

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Given the Term Structure below: 1year=3%2years=4.6%3years=5.9%4years=6.6%5years=7.7% Based on the expectations hypothesis, what does the market expect the 1 year rate in 4 year to be? Enter your answer as a percentage, without the percentage sign ('\%'), and rounded to 1 decimal. Example: if youti answer is 0.12345 , that's equivalent to 12.3%, so enter 12.3

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