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Suppose you now consider a purchase of a three-year zero-coupon bond that has a face value of $1,000, which is to be sold one year

Suppose you now consider a purchase of a three-year zero-coupon bond that has a face value of $1,000, which is to be sold one year from now. Given the information on the one-year forward rates below, please estimate the expected price of the three-year zero-coupon bond at the time of issuance.

Year One-year forward rate
1 2.15%
2 2.25%
3 2.65%
4 3.15%
5 3.55%

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