Spot rates for 90 -day, 180 -day, 270 -day, and 360 -day loans are 2%,2.5%,2.75%, and 3%, respectively. Given this information, the 90 -day forward rate 180 days from now is closest to: 3.21% 3.67% 2.88% According to the expectations theory and the Fisher hypothesis, a downward-sloping term structure is indicative of which of the following? I. nominal interest rates are expected to increase II. nominal interest rates are expected to decline III. inflation rates are expected to increase IV. inflation rates are expected to decrease II and IV only II and III only I and II only A bond has a face value of $20,000 and matures in 62 days. What is the bank discount yield if the bond is currently selling for $19,792.30 ? 5.95% 6.03% 6.18%