Problem 15-18 Suppose that the prices of zero-coupon bonds with various maturities are given in the following table. The face value of each bond is $1,000. Maturity (Years) Price 3 4 5 $ 991.28 873.39 806.92 742.20 654.98 a. Calculate the forward rate of interest for each year. (Round your answers to 2 decimal places! Answer is complete and correct. Forward Rate Maturity (years) 2 13.49% 8.23% 3 4 8.72% 5 13.31 % b. How could you construct a 1-year forward loan beginning in year 3? (Round your Rate of synthetic loan answer to 2 decimal places.) Answer is complete and correct. 1,087 Face value Rate of synthetic loan 8.70 % c. How could you construct a 1-year forward loan beginning in year 4? (Round your answers to 2 decimal places.) X Answer is not complete. Face value Rate of synthetic loan %