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If the current 1-year spot rate is 4.0%, the current 2-year spot rate is 8.0%, and the current 3-year spot rate is 12.0%. Calculate the

If the current 1-year spot rate is 4.0%, the current 2-year spot rate is 8.0%, and the

current 3-year spot rate is 12.0%. Calculate the 1-year forward rate two years from

today.

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