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The one-year spot rate is 4%, the two-year spot rate is 5%, and the three-year spot rate is 6%. What is the forward rate for

The one-year spot rate is 4%, the two-year spot rate is 5%, and the three-year spot rate is 6%. What is the forward rate for year 3? (The forward rate quoted today for an investment that begins in two years and matures in three years.)

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