The following table summarises prices of various default-free zero-coupon bonds (expressed as a percentage of the face value):

Maturity Price (per $100 face value) 1 year 96.42 2 years 92.01 3 years 87.32 4 years 82.53 5 years 77.39

a. Compute the yield to maturity for each bond.

a. The yield on the 1-year bond is%.

(Enter your response as a percent rounded to two decimal places.)

The yield on the 2-year bond is %.

(Enter your response as a percent rounded to two decimal places.)

The yield on the 3-year bond is%.

(Enter your response as a percent rounded to two decimal places.)

The yield on the 4-year bond is %.

(Enter your response as a percent rounded to two decimal places.)

The yield on the 5-year bond is %.

(Enter your response as a percent rounded to two decimal places.)