The following table shows yields to maturity on U.S. Treasury securities as of January 1, 2018:

Term to Maturity		Yield to Maturity
1	year	3.40%
2	years	4.40%
3	years	4.80%
4	years	5.20%
5	years	5.90%
10	years	6.40%

Based on the data in the table, calculate the implied forward one-year rate of interest at January 1, 2021. Do not round intermediate calculations. Round your answer to two decimal places.

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