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Yield curve data provides the following forward or spot rates: f 0 = 0.03 f 1 = 0.0325 f 2 = 0.03625 f 3 =

Yield curve data provides the following forward or spot rates:

f₀ = 0.03

f₁ = 0.0325

f₂ = 0.03625

f₃ = 0.0375

a. Using the forward rates shown above, find the price of a T-bill with one year to maturity and a par value of $100? Note: Use semi-annual periods and remember that T-Bills have a coupon rate of 0%.

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