The expected annual inflation rates for the coming 5 years are listed in the following table:

Year	Expected annual inflation rate
1	2%
2	3
3	4
4	4
5	4.5

If the real risk-free rate for a three-year debt security is 2%. What is the nominal risk-free rate for the security?

Select one:

a. 4.5%

b. 6%

c. 4%

d. 5%

e. 3.5%