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Today, a 1-year bond has an annualized rate of return of 5% per year. A 2-year bond has an annualized rate of return of

Today, a 1-year bond has an annualized rate of return of 5% per year. A 2-year bond has an annualized rate of return of 8% per year. A 3-year bond has an annualized rate of return of 10% per year. What is the forward rates for a 1-year bond in the third year?

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