The following table shows the prices of a sample of Narnian Treasury strips in December 2018. Each strip makes a single payment of $1,000 at maturity. Price (%) 90.703 Maturity December 2020 December 2021 December 2022 December 2023 85.892 81.491 77.243 Calculate the annually compounded, spot interest rate for each year. (Do not round intermediate calculations. Enter your answers as percent rounded to 2 decimal places.) Hint: The formula and example are in LectureWeek.. Page 14-15. Maturity Spot interest Rate December 2020 December 2021 % December 2022 December 2023 Question 2 2.5 pts Is the term structure in the previous question upward- or downward-sloping or flat? O Flat Upward-sloping Downward sloping