1. What is the 3-year implied spot rate (given the information below). Note: All rates are annual rates stated for a periodicity of one (effective annual rates).

2. Given the above information, what is the value per $100 of par value of a three-year, 4.0% coupon bond with interest payments paid annually?

Time Period Ov1y 1y1y 2y1 3y1 4y1 Forward Rate 1.3000% 1.6120% 4.4400% 3.7800% 3.6400%