The real risk-free rate is 3.50%, and inflation is expected to be 3.50% for the next 2 years. A 2-year Treasury security yields 8.75%. What is the maturity risk premium for the 2-year security? Round your answer to two decimal places.

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One-year Treasury securities yield 3.8%. The market anticipates that 1 year from now, 1-year Treasury securities will yield 6.75%. If the pure expectations theory is correct, what is the yield today for 2-year Treasury securities? Calculate the yield using a geometric average. Do not round intermediate calculations. Round your answer to two decimal places.

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