Based on the econo

Problem $2-14($LG $2-7)$

Based on economists' forecasts and analysis, one$-$year Treasury bill rates and liquidity premiums for th to be as follows:

${?}_1{R}_1=5\mathrm{.}71\%$

$E(r_1)=6\mathrm{.}81\%E_2=0\mathrm{.}04\%$

$E(r_1)=6\mathrm{.}91\%L_3=0\mathrm{.}15\%$

$E(r_1)=7\mathrm{.}21\%L_4=0\mathrm{.}17\%$

Calculate the yield'to maturity for four years.

Note: Round your percentage answers to $2$ decimal places $($e$.$g$.,32\mathrm{.}16).$

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