Assume the zero-coupon yields on default-free securities are as summarized in the following table:

Maturity 1 year 5.10% 2 years 5.60% 3 years 5.90% 4 years 6.10% 5 years 6.30%

Zero-Coupon Yields

What is the price of a three-year, default-free security with a face value of 1,000 and an annual coupon rate of 6%?

What is the yield to maturity for this bond?

What is the price of three-year, default-free security with a face value of $1,000 and an annual coupon rate of 6%?

The price is ??? (Round to the nearest cent.)