What is the 1.5 year zero rate (also known as "spot rate") give that the information for the following .5 year, 1 year, and 1.5 year bonds: NOTE: The .5 & 1 year bonds are zero-coupon. The 1.5 year bond has a $5.00 coupon which is paid semi-annually (in 2 increments of $2.50, each six-months apart).

Time to Maturity (in years) Coupon ($) Price Zero Rate

0.5 $ - $99.50

1 $ - $99.00

1.5 $5.00 $102.00