[question removed by admin] can someone help me understand this better, when we compare forward curve vs spot curve, what are we comparing, say T=3, r(3) is the stpot rate to discount a coupon 3 years from now, what is the forward rate there mean? its starting from year=3 and then how long is teh period?

The question is from a blue box in Reading 43 of the curriculum. They use the word “initiation” quite a bit during the reading, to describe a loan initiated T* years from today.

can you help understand when we compare spot rate and forward rate on a curve, what are we comparing? in terms of data point, I am confused because spot rate is the rate we use to discount one future income, while the other is a rate at future to couple years in future?