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Suppose that the price at time 0 of a zero-coupon bond of term t < 8 is Pt = 4vt - 3 per unit nominal,

Suppose that the price at time 0 of a zero-coupon bond of term t < 8 is Pt = 4vt - 3 per unit nominal, where the force of interest is 3.5%. Calculate the instantaneous forward rate at time of 20 months.

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