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Refer to the following table. Maturity (years) 1 2 3 4 5 Zero-coupon YTMn=rn 3.77% 5.64% 5.64% 5.06% 4.68% What is the forward rate for

Refer to the following table. Maturity (years) 1 2 3 4 5 Zero-coupon YTMn=rn 3.77% 5.64% 5.64% 5.06% 4.68% What is the forward rate for year 5 (the forward rate quoted today for an investment that begins in four years and matures in five years)?

The forward rate for year 5 is enter your response here%. (Round the final answer two decimal places. Round all intermediate values to four decimal places as needed.)

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