Question 1 (5 point): Draw the following yield curves:

Question 1-a (2.5 point): Draw the yield curve described as follows:

• Interest rates: 2% in year 1; 2.5% in year 2; 3% in year 3; 4.5% in year 4.
• Term premiums: 0.75% for a one-year bond, rising by 0.25% for each additional year of maturity.