(d) Consider the following information on U.K. default-free government zero coupon bonds where all bonds have a face value of 100: Bond Price 1-year zero coupon bond 98.039 2-year zero coupon bond 90.703 3-year zero coupon bond 83.962 4-year zero coupon bond 70.843 (i) Calculate as many forward rates as possible. [5 marks] (ii) An investor wants to invest 100 at t = 2, and receive at t = 4 a cash inflow of 100 (1+2f2) where 2f2 is the forward rate between years 2 and 4. Explain how the investor can achieve this using one or more of the bonds in the table, stating exactly how many units of the required bonds need to be long/short and the resultant cash flows. [5 marks]