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Suppose we observe the three-year Treasury security rate (183) to be 4.1 percent, the expected one-year rate next year-E(251)-to be 4.5 percent, and the

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Suppose we observe the three-year Treasury security rate (183) to be 4.1 percent, the expected one-year rate next year-E(251)-to be 4.5 percent, and the expected one-year rate the following year-E(3r1)-to be 4.8 percent. If the unbiased expectations theory of the term structure of interest rates holds, what is the one-year Treasury security rate? (Do not round intermediate calculations. Round your percentage answer to 2 decimal places. (e.g., 32.16)) One-year Treasury security rate %

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