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Term (years) Today's Rate 1 3.16% 2 3.52% 3 3.85% Based on the expectations hypothesis, what does the market expect the 1 year rate in

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Term (years) Today's Rate 1 3.16% 2 3.52% 3 3.85% Based on the expectations hypothesis, what does the market expect the 1 year rate in 1 year to be? State your answer as a percentage to 2 decimal places (e.g., 4.39)

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