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Suppose that you know the following annualized, continuously compounded zero interest rates at the start of the calendar year:
3-month (1 quarter) maturity: 6.0%
6-month (2 quarters) maturity: 6.5%
9-month (3 quarters) maturity: 7%
12-month (4 quarters) maturity: 7.56%
What is the annualized forward rate for the fourth quarter?
Show all work.
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