Refer to the following table.

What is the forward rate for year $3($the forward rate quoted today for an investment that begins in two years

and matures in three years$)?$ What can you conclude about forward rates when the yield curve is flat?

What is the forward rate for year $3($the forward rate quoted today for an investment that begins in two years

and matures in three years$)?$

The forward rate for year $3$ is $\%.$

$($Round the final answer two decimal places. Round all intermediate values to four decimal places

as needed.$)$