Problem:
A recent edition of The Wall Street Journal reported interest rates of 4.25 percent, 4.60 percent, 4.98 percent, and 5.25 percent for 3-, 4-, 5-, and 6-year Treasury security yields, respectively.
Required:
Question: According to the unbiased expectation theory of the term structure of interest rates, what are the expected 1-year forward rates for years 4, 5, and 6?
Note: Please show how you came up with the solution.