Prices and spot interest rates What spot interest rates are implied by the following Treasury bonds? Assume for simplicity that the bonds pay annual coupons. The price of a oneyear strip is 97.56%, and the price of a four-year strip is 87.48%. Maturity (years) Coupon Price (%) 2 5 5 3 3 5 92.89 97.43 105.42 Prices and spot interest rates What spot interest rates are implied by the following Treasury bonds? Assume for simplicity that the bonds pay annual coupons. The price of a oneyear strip is 97.56%, and the price of a four-year strip is 87.48%. Maturity (years) Coupon Price (%) 2 5 5 3 3 5 92.89 97.43 105.42