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You buy a two-year bond which pays interest of 10% p.a. At the end of year two you purchase a one-year bond that pays interest

You buy a two-year bond which pays interest of 10% p.a. At the end of year two you purchase a one-year bond that pays interest of 12%. According to the expectations theory of interest rates you could have purchased a three-year bond today that pays interest each year of:

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