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The function s ( t ) = 0.12 0.06* e^( t / 4)provides the term structure of effective annual rates of zero coupon bonds of

The functions(t) = 0.12 0.06*e^(t/4)provides the term structure of effective annual rates of zero coupon bonds of maturityt, withtin years. Find the following:

Q1: what is the 3-year forward effective annual rate for a 3 month period. Please show your answer step by step.

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