大家好~ 小弟第一次在板上PO文
最近在为4月中的FM考试冲刺，以下为遇到的问题：
Find the present value of the remaining payments in the annuity
given in the table below immediately after two payments have been
made.The forward rates at that time are expected to be 1% higher
for all periods than the current spot rates.
Table Term(year) Spot rate(%) Payments
1 7.00 1000
2 8.00 1000
3 8.75 1000
4 9.25 1000
5 9.50 1000
解答如下：
1000*[(1.08)^(-1)+(1.09)^(-2)+(1.0975)^(-3)]=2524.07
我想问的是，解答中的forward rates为什么不是f3、f4、f5，
Comparison date不是在t=2吗？
以上问题，希望版上能有人为我指点迷津，感恩~~