solve this problem without using Excel. please show all work.

4.Spot interest rates and ylelds You have estimated spot rates as follows: H=5.00%, n=5.40%, -5.70%, 7-5.90%, * = 6.00%. . What are the discount factors for each date (that is, the present value of $1 paid in year t)? b. Calculate the PV of the following bonds assuming annual coupons: 5%, two-year bond; (ii) 5%, five-year bond; and (iii) 10%, five- year bond. c. Explain intuitively why the yield to maturity on the 10% bond is less than that on the 5% bond. d. What should be the yield to maturity on a five-year zero-coupon bond? e. Show that the correct yield to maturity on a five-year annuity is 5.75% 4.Spot interest rates and ylelds You have estimated spot rates as follows: H=5.00%, n=5.40%, -5.70%, 7-5.90%, * = 6.00%. . What are the discount factors for each date (that is, the present value of $1 paid in year t)? b. Calculate the PV of the following bonds assuming annual coupons: 5%, two-year bond; (ii) 5%, five-year bond; and (iii) 10%, five- year bond. c. Explain intuitively why the yield to maturity on the 10% bond is less than that on the 5% bond. d. What should be the yield to maturity on a five-year zero-coupon bond? e. Show that the correct yield to maturity on a five-year annuity is 5.75%