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It is expected that in exactly three years, a 12-month pure discount bond with a face value of $5,000 will sell for $4,850. If 4year

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It is expected that in exactly three years, a 12-month pure discount bond with a face value of $5,000 will sell for $4,850. If 4year spot (zero) rates are 4.00% p.a., based on pure expectation theory, what is the current 3 -year spot rate

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