Question: Suppose that a commoditys forward prices for 1 year, 2 years, and 3 years are $95, $104, and $123, respectively. The 1-year effective annual interest

Suppose that a commoditys forward prices for 1 year, 2 years, and 3 years are $95, $104, and $123, respectively. The 1-year effective annual interest rate is 3.4%, the 2-year interest rate is 3.2%, and the 3-year interest rate is 2.8%. What is the 3-year swap price?

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