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You are provided with information about the yield curves of treasury securities as follows: On-the-run yield Maturity (years) curve 1 Pure yield curve 2.50% 3%

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You are provided with information about the yield curves of treasury securities as follows: On-the-run yield Maturity (years) curve 1 Pure yield curve 2.50% 3% 3.50% 4% 2 2.50% 2.99% 3.48% 3.95% 4.37% 3 4 5 The on-the-run yield curve is plotted using the yields of coupon bonds paying annual coupons, which are recently issued and traded at par. The pure yield curve is plotted using the yields of zero coupon bonds. From the yields information above, the 5-year rate of zero-coupon treasury bonds is - O 4.55% O 4.45% O 4.40% O 4.50%

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