Given the following data on debt U.S. Treasury debt instruments:

• 1-year note yield = 4.42% 7-year note yield = 5.64%
• 2-year note yield = 4.69% 8-year note yield = 5.70%
• 3-year note yield = 5.02% 9-year note yield = 5.86%
• 4-year note yield = 5.02% 10-year note yield = 5.95%
• 5-year note yield = 5.35% 11-year note yield = 5.90%
• 6-year note yield = 5.50% 12-year note yield = 5.99%

And constant premiums of 0, .17%, .41%, .63%, .82%, .98%, 1.12%, 1.22%, 1.30%, 1.37%, 1.42%, 1.45%, 1.47%

1. Calculate the expectations yield on a 4-year note purchased at the beginning of year 5.
2. Determine the expectations yield on a 10-year note purchased today.
3. Determine the yield on a 12-year Treasury note purchased today.
4. Describe the yield curve and provide a general interpretation of what implies about the economy.

Show work please!