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Given the following spot rates, calculate the value of a $1000 par value bond that mature in 3 years, and pays 8% annual-coupon. Maturity Spot

Given the following spot rates, calculate the value of a $1000 par value bond that mature in 3 years, and pays 8% annual-coupon.

Maturity Spot rate

1-year: 4%

2-year: 5%

3-year: 6%

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