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The one-year spot interest rate is r1 = 6.8%, and the two-year rate is r2 = 7.8%. If the expectations theory is correct, what is

The one-year spot interest rate is r1 = 6.8%, and the two-year rate is r2 = 7.8%. If the expectations theory is correct, what is the expected one-year interest rate in one years time? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Expected interest rate

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