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The one year spot rate is currently 4%, the one year spot rate one year from now will be 3%, and the one year

The one year spot rate is currently 4%, the one year spot rate one year from now will be 3%, and the one year spot rate two years from now will be 6%. Under the unbiased expectations theory, what must today's three year spot rate be? Supposed the three year spot rate is actually 3.75%, how could you take advantage of this? Explain.

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