Use the following information to answer the remaining questions.

Suppose you observe the following securities. Assume that all of them are priced correctly based on the appropriate spot rates.

• 1-year STRIP with a par value of $100 and a price of $97 (assume annual compounding)
• 2-year STRIP with a par value of $100 and a price of $91 (assume annual compounding)
• Treasury bond priced at par with 3 years left to maturity, a 5% coupon, and a $1000 par value (assume coupons are paid annually)
• Treasury bond priced at par with 4 years left to maturity, a 6% coupon, and a $1000 par value (assume coupons are paid annually)

Calculate the 1-year spot rate.

Calculate the 2-year spot rate.

Calculate the 3-year spot rate.

Calculate the 4-year spot rate.