⏩ 远期利率计算器Forward Rate Calculator
由两个不同期限的即期利率（如 1 年期和 2 年期）推算两者之间的隐含远期利率，支持年复利、连续复利和单利三种口径，并给出验证。Derive the implied forward rate between two maturities from their spot rates (for example the 1-year and 2-year rates), with annual compounding, continuous compounding or simple interest, and a check.
使用说明与常见问题How-to & FAQ
「远期利率计算器」是什么？What is the Forward Rate Calculator tool?
由两个不同期限的即期利率（如 1 年期和 2 年期）推算两者之间的隐含远期利率，支持年复利、连续复利和单利三种口径，并给出验证。Derive the implied forward rate between two maturities from their spot rates (for example the 1-year and 2-year rates), with annual compounding, continuous compounding or simple interest, and a check.
如何使用「远期利率计算器」？How do I use the Forward Rate Calculator tool?
在「远期利率计算器」中，填写「计息方式」、「短期即期利率 r₁（%）」、「短期期限 t₁（年）」、「长期即期利率 r₂（%）」、「长期期限 t₂（年）」等参数，结果会随输入实时计算并显示在下方。In the Forward Rate Calculator: Fill in "Compounding", "Shorter spot rate r₁ (%)", "Shorter term t₁ (years)", "Longer spot rate r₂ (%)", "Longer term t₂ (years)"; results are recalculated instantly as you type.
远期利率怎么算？How is the forward rate calculated?
无套利原则：先投资 t₁ 年再按远期利率滚动到 t₂，应与直接投资 t₂ 年的结果相同。年复利：(1 + r₂)^t₂ = (1 + r₁)^t₁ × (1 + f)^(t₂ − t₁)，所以 f = [(1 + r₂)^t₂ ÷ (1 + r₁)^t₁]^(1/(t₂ − t₁)) − 1。连续复利：f = (r₂t₂ − r₁t₁) ÷ (t₂ − t₁)。By no-arbitrage, investing for t₁ years and then rolling at the forward rate to t₂ must equal investing for t₂ years directly. With annual compounding (1 + r₂)^t₂ = (1 + r₁)^t₁ × (1 + f)^(t₂ − t₁), so f = [(1 + r₂)^t₂ ÷ (1 + r₁)^t₁]^(1/(t₂ − t₁)) − 1. With continuous compounding f = (r₂t₂ − r₁t₁) ÷ (t₂ − t₁).
单利口径什么时候用？When is simple interest used?
货币市场工具（一年以内）常用单利报价：1 + r₂t₂ = (1 + r₁t₁)(1 + f·(t₂ − t₁))。这里期限按年计，未处理具体的日计数惯例（如 Act/360）。Money-market instruments (under a year) are usually quoted with simple interest: 1 + r₂t₂ = (1 + r₁t₁)(1 + f·(t₂ − t₁)). Terms here are in years; specific day-count conventions such as Act/360 are not applied.
默认值是什么？What are the defaults?
默认的 1 年期 2%、2 年期 3% 只是示例；结果 4.0098% 是第 1 年末到第 2 年末的一年期远期利率。The defaults — 2% for 1 year and 3% for 2 years — are only an example; the result, 4.0098%, is the one-year rate from the end of year 1 to the end of year 2.
计算结果可以作为最终依据吗？Can I rely on the result?
「远期利率计算器」按标准公式计算，结果仅供参考；实际金额以银行、券商或税务机关的规则和四舍五入方式为准。The Forward Rate Calculator uses standard formulas and is for estimation only; actual figures depend on your bank, broker or tax authority's rules and rounding.
「远期利率计算器」免费吗？需要注册吗？Is the Forward Rate Calculator free? Do I need an account?
「远期利率计算器」完全免费，无需注册或安装，打开网页即可使用，手机和电脑都能用；输入的内容只在你的浏览器本地处理。The Forward Rate Calculator is completely free with no sign-up or install and works on phones and desktops; what you enter is processed only in your browser.