The following table shows the prices of a sample of Treasury bonds, all of which have coupon rates of zero. Each bond makes a single payment at maturity.

Years to Maturity	Price (% of face value)
1	96.852%
2	93.351
3	89.544
4	85.480

1. What is the 1-year interest rate?

   Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.

2. What is the 2-year interest rate?

   Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.

3. What is the 3-year interest rate?

   Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.

4. What is the 4-year interest rate?

   Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.

5. Is the yield curve upward-sloping, downward-sloping, or flat?

6. Is this the usual shape of the yield curve?