GIVEN THE FOLLOWING INTEREST RATES TODAY

MATURITY	YIELD
1 YEAR	3.5%
2 YEARS	3.75%
3 YEARS	4.0%
4 YEARS	4.25%
5 YEARS	4.5%

AND IF THE PURE EXPECTATIONS THEORY HOLD, WHAT DOES THE MARKET EXPECT INTEREST RATE WILL BE ON

1. A ONE YEAR SECURITY, ONE YEAR FROM NOW?

2.TWO YEAR SECURITIES, THREE YEARS FROM NOW?