can u answer step by step in detail

3) A three-year $1,000 par zero-coupon bond is currently priced at $825,00. A three-year $1,000 annuity (i.e., it nays $1,000 at the and of esch year) is ectrently priced at er 580 . 40 if you want to invest $20,000, which is the better buy assuming they have similar default risk? Which investment has more reinvestment risk