The date today is t₀ = Jan 2018 and the prices of the discount bonds for the different maturities are as follows:

	t1	t2	t3	t4
	Jan 2019	Jan 2020	Jan 2021	Jan 2022
Bt	0.98717	0.96117	0.92860	0.88849

1. Construct a table showing the term structure of interest rates (i.e., calculate the spot rates for t₁ to t₄).
2. What is the forward interest rate between year 3 and 4?
3. What is the price of a bond issued today (January 2018) for 4 years with a 5% coupon and a nominal of 100? A single coupon payment is made each year.