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Problem 3-27 Term-structure theories The one-year spot interest rate is 11 - 5.67, and the two-year rate is 12 - 6.61. If the expectations theory

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Problem 3-27 Term-structure theories The one-year spot interest rate is 11 - 5.67, and the two-year rate is 12 - 6.61. If the expectations theory is correct, what is the expected one-year interest rate in one year's time? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) % Expected interest rate

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