Suppose the term structure of interest rates has these spot interest rates: r1 = 6.8%, r2 = 6.6%, r3 = 6.4%, r4 = 6.2%, and r5 = 7.8%. a. What will be the 1-year spot interest rate in three years if the expectations theory of term structure is correct? b. If investing in long-term bonds carries additional risks, then how would the risk equivalent of a 1-year spot rate in three years relate to your answer to part (a, Greater, Less than or Equal)?