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The yield to maturity on one-year zero-coupon bonds is 5%. The yield to maturity on two-year zero-coupon bonds is 7%. The YTM of three year

The yield to maturity on one-year zero-coupon bonds is 5%. The yield to maturity on two-year zero-coupon bonds is 7%. The YTM of three year bond is 8%

a. What is the forward rate of interest for the second year?

b. What is the forward rate of interest for the third year?

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