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The following table lists the annual par rates for the next 4 years: Time (years) Rate (%) 1 2.71 2 3.02 3 4.87 4 5.7
The following table lists the annual par rates for the next 4 years:
| Time (years) | Rate (%) |
| 1 | 2.71 |
| 2 | 3.02 |
| 3 | 4.87 |
| 4 | 5.7 |
Under these conditions, what 3 year spot rate?
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