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Prices of zero-coupon, default-free securities with face values of $1,000 are summarized in the following table. Maturity (years) 1 2 3 4 Price $973.24 $915.73
Prices of zero-coupon, default-free securities with face values of $1,000 are summarized in the following table.
Maturity (years) 1 2 3 4 Price $973.24 $915.73 $863.84 $807.22
Based on this information, at what price do you expect a $1,000 par value, three-year, zero-coupon, default-free security to trade one year from today?
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