Hi there, The answer for Practice problem Q4 (reading 35, page A-21) says that “we used the appropriate forward rate to calculate the interest payment, $0.952*1.070024…”. My question is how to get the forward rate 1.070024? Many thanks
1.065^2 / 1.06 = 1.07004 (this is implied forward rate from year 1 to year 2)