An expert has given you the current spot yield curve based on his analyses. The spot rate is s(t)%, where s(t) is determined by the equation: s(t) = 0 + 1 exp(1t) + 2 t 1 exp(1t) + 3 t 2 exp(2t) with t being the amount of time in years from 1 January 2023. You shall treat each month as having equal length, and the spot rates are annual nominal rates compounded monthly. The parameters are given by:

0 = 3.91

1= -1.43

2 =-2.67

3= 0.26

1 =0.62

2= 0.83

This structure is also called the Nelson-Siegel-Svensson formula. To find the accumulated value at the end of the 10-year period, you will need to calculate forward rates from the spot rates calculated using the above formula. In Excel Calculate the values for s(t) and hence, the monthly forward rates. Plot s(t) and briefly explain the shape of the curve.