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Assume the zero-coupon yields on default-free securities are as summarized in the following table: Maturity Zero-Coupon Yields 1 year 7.00% 2 years 7.40% 3 years

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Assume the zero-coupon yields on default-free securities are as summarized in the following table: Maturity Zero-Coupon Yields 1 year 7.00% 2 years 7.40% 3 years 7.70% 4 years 8.00% What is the price of a five-year, zero-coupon default-free security with a face value of $1,000? The price is $ (Round to the nearest cent.) Assume the zero-coupon yields on default-free securities are as summarized in the following table: Maturity Zero-Coupon Yields 1 year 7.00% 2 years 7.40% 3 years 7.70% 4 years 8.00% What is the price of a five-year, zero-coupon default-free security with a face value of $1,000? The price is $ (Round to the nearest cent.)

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