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The annual spot rates for three different bonds are specified below: Year Annual Spot Rate (%) 0.5 4 1 4 1.5 7 Suppose interest rates

The annual spot rates for three different bonds are specified below:

Year	Annual Spot Rate (%)
0.5	4
1	4
1.5	7

Suppose interest rates are semi-annually compounded. What is the forward rate from year 1 to year 1.5?

Group of answer choices

None

14.377%

12.62%

13.133%

13.508%

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