103. The bond-equivalent yield (BEY) spot rates for U.S. Treasury yields are provided below.
Period Years Spot
Rate
1 0.5 1.20%
2 1.0 2.10%
3 1.5 2.80%
4 2.0 3.30%
On a BEY basis, the 6-month forward rate one year from now is closest to:
A. 2.10%.
B. 3.64%.
C. 4.21%.
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