Question: The spot interest rate on a continuous welfare basis is as follows. 3 months due: 3.0% 6 months due: 3.2% 9 months due: 3.4% 12

The spot interest rate on a continuous welfare basis is as follows.
3 months due: 3.0%
6 months due: 3.2%
9 months due: 3.4%
12 months due: 3.5%
15 months due: 3.6%
18 months due: 3.7%
What are the forward interest rates for the second, third, fourth, fifth and sixth quarters?

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