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Suppose the yield on a one-year, zero-coupon bond is 5.08%. The forward rate for year 2 is 3.91%, and the forward rate for year 3
Suppose the yield on a one-year, zero-coupon bond is 5.08%. The forward rate for year 2 is 3.91%, and the forward rate for year 3 is 2.92%. What is the yield to maturity of a zero-coupon bond that matures in three years?
The yield to maturity is (Round to three decimal places.)
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