4. Given the following expectations information on U.S. Treasury Instruments:

1-year note yield = 1.83%

2-year note yield = 1.99%

3-year note yield = 2.21%

4-year note yield = 2.42%

5-year note yield = 2.79%

6-year note yield = 3.04%

7-year note yield = 3.58%

8-year note yield = 4.18%

And non-changing premiums of 0, .11%, .22%, .39%, .52%, .64%, .75%, .88%, & .98%

a) Calculate the expected expectations yield for a (3,2,1,2) path.

b) Calculate the expected empirical yield for a (2,5,1) path.

c) Calculate the expected expectations yield for a 5-year note purchased at the beginning of year 3

d) Calculate the expected market yield on a 4-year note that was purchased at the beginning of year 2.

e) Determine the expectations yield on a 5-year note purchased today.

f) Determine the yield on a 6-year Treasury Note purchased today.