A strip bond is a bond in which both principal and regular coupon payments (which have been removed) are sold separately. So a strip bond is known as zero-coupon bond. The following are the yield to maturity on Canada strip bonds with various years to maturity. YTM, % 1.85 2.25 2.85 3.10 3.35 3.65 3.85 4.15 4.35 4.45 Years 1 2 3 4 5 6 7 8 9 10 What is the price of a 7-year $1,000 par, 8% annual coupon bond at Year 5?