Assume the following data on U.S. Treasury securities is current:

Years to Maturity	Yield to Maturity
1	4.32%
2	4.34%
3	4.34%
4	4.34%
5	4.36%
7	4.42%
10	4.59%
20	4.78%

A. How much will a $10,000 investment in 5-year Treasury notes return if the investment is held to maturity?

B. How much will a $20,000 investment in 10-year Treasury bonds return if the investment is held to maturity?

C. What is the implied interest rate on a one-year Treasury issued at the end of one year?

D. What is the impllied interest rate on a one-year Treasury issued two years from today?

E. According to the term structure, what would you have to pay for a $1,000, zero-coupon, Treasury bond that matures in five years?

F. You purchase a $1,000, zero-coupon, Treasury bond that matures in five years. Assume the term structure remains constant and that you sell the bond after holding it only three years. For what price can you sell it?