If you fix the loan length one year maybe and then, Financial Management

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If you fix the loan length one year maybe and then

If you fix the loan length (one year maybe) and then calculate all forward rates using that time interval, that is f(0,1,2), f(0, 2, 3), f(0, 3, 4) and so on and plot the resulting forward yield curve against the spot curve, why is the forward curve always higher than the spot curve when the spot yield curve is upwardly sloping?

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