please solve this problem without using Excel and show all steps.

8 You are given the following information about three zero-coupon bonds: Price on Maturity Value on: Bond January 1, 2001 July 1, 2001 July 1, 2002 January 1, 2003 A $96 $100 B 88 $100 125 $150 Determine the forward rate for the period from July 1, 2002 to January 1, 2003, expressed as a nominal annual rate of interest convertible semiannually