Question: Given the following Treasury spot rate curve, compute the arbitrage-free value of a 6% coupon, 2-year Treasury note.
Period Years Spot Rate (%)
1 0.5 3.0000
2 1.0 3.3000
3 1.5 3.5053
4 2.0 3.9164
Calculate the price of a $100,000 Treasury bill with 151 days left to maturity & a discount yield of 3.75%?