You are considering to invest your money for a three-year period. The current interest rate on the one-year bond is 5%. The 1-yr interest rates over the next four years are expected to be 6%,7%,8%, and 9% (i.e. it+1e=6% ). Given the previous interest rates, suppose you can buy a 1-year bond for $1000 and when it matures in one year, you purchase another one-year bond (i.e. you buy a 1-year bond at the beginning of each of the three years). If you follow this strategy, you earn % during the first year and \% during the second year. The future value of your initial investment after three years is Now, suppose you also the option to buy a 3-yr bond with a 7.5\% yield to maturity for $1000. The future value of the investment is Suppose the liquidity premium theory holds. The liquidity premium for the 3yr bond is You are considering to invest your money for a three-year period. The current interest rate on the one-year bond is 5%. The 1-yr interest rates over the next four years are expected to be 6%,7%,8%, and 9% (i.e. it+1e=6% ). Given the previous interest rates, suppose you can buy a 1-year bond for $1000 and when it matures in one year, you purchase another one-year bond (i.e. you buy a 1-year bond at the beginning of each of the three years). If you follow this strategy, you earn % during the first year and \% during the second year. The future value of your initial investment after three years is Now, suppose you also the option to buy a 3-yr bond with a 7.5\% yield to maturity for $1000. The future value of the investment is Suppose the liquidity premium theory holds. The liquidity premium for the 3yr bond is