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The annualized yield on a two - year security is below the annualized one - year interest rate. The one - year forward rate as
The annualized yield on a twoyear security is below the annualized oneyear interest rate. The oneyear forward rate as of one year ahead is
a negative
b zero
c positive, but below the annualized oneyear interest rate
d None of these choices are correct.
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