Compute the 3-year holding rate of return on December 31, 2004. Then, using the 2-year holding rate of return on December 31, 2004, of 5.23%

and your calculated 3-year holding rate of return, compute the forward interest rate for a 1-year investment beginning on December 31, 2006, and ending on December 31, 2007. Are these the numbers in Table 5.1?