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Looking at interest rates (coupon rates) of treasury bills today, you found that the interest rate of 3- year T-bill is 4% (annualized). And the

Looking at interest rates (coupon rates) of treasury bills today, you found that the interest rate of 3- year T-bill is 4% (annualized). And the annualized return for a 5-year T-bill is 7%. What is the annualized return from the end of the third year to the end of the fifth year if we use today as time point 0.

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