1. An investor gathers the following information for three bonds, each trading at par value and making annual coupon payments:

Maturity	1 year	2 years	3 years
Coupon	0%	2.5%	3.5%
Price	98.52	100	100
Yield	1.5%	2.5%	3.5%

--> Calculate the 1-year, 2-year, and 3 year spot rates.