The real risk-free rate of interest is 1.57% at the beginning of 2021. Inflation is expected to be 2% in 2021, jump to 4.00% in 2022, and run at 3% in 2023. A maturity risk premium is expected to be...

The real risk-free rate of interest is 1.57% at the beginning of 2021.  Inflation is expected to be 2% in 2021, jump to 4.00% in 2022, and run at 3% in 2023.  A maturity risk premium is expected to be 0.37% per year to maturity. A liquidity premium on corporate bonds issued by small companies will continue to be 0.50%, regardless of their maturities.   What should the interest rate on a 3-year Treasury security be at the beginning of 2021?