What is the expected annual return over 4 years for the first strategy?

What is the expected annual return over four years for the second strategy?

which strategy is preferred?

The following information is for the next four questions. An investor is presented with the following two alternative strategies: (1) Purchase a 4-year bond with an interest rate of 4.85% and hold it until maturity, or (2) purchase a 1-year bond with an interest rate of 4.00% and when it matures, purchase another 1-year bond with an expected rate of 3.75% and when that matures, purchase another 1-year bond with an interest rate of 50%. The investor can purchase a fourth 1-year bond with an interest rate of 7.00%. What is the expected annual return over 4 years for the first strategy