A recent edition of The Wall Street Journal reported
interest rates of 2.65 percent, 3.00 percent, 3.38 percent, and
3.65 percent for three-year, four-year, five-year, and six-year
Treasury notes, respectively. According to the unbiased
expectations theory of the term structure of interest rates, what
are the expected one-year rates during years 4, 5, and 6?
(Do not round intermediate calculations. Round your answers
to 2 decimal places. (e.g., 32.16))
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