Consider the following spot interest rates for maturities of one, two, three, and four years.
$r_1 = 6.4\%$
$r_2 = 7.0\%$
$r_3 = 7.7\%$
$r_4 = 8.5\%$
What are the following forward rates, where $f_{1,k}$ refers to a forward rate for the period beginning in one year and extending for k years?
Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.
$f_{1,1}$ 7.60 %
$f_{1,2}$ %
$f_{1,3}$ %
