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The 1-year spot rate is 9%, the 2-year spot-rate is 8%, and the 3-year spot rate is 7%. What is the YTM on a 3-year,

The 1-year spot rate is 9%, the 2-year spot-rate is 8%, and the 3-year spot rate is 7%. What is the YTM on a 3-year, 1% annual coupon bond? Please note no calculations are needed to choose the best answerif you do any calculations you are losing valuable time.

7.014%

8.000%

6.000%

7.000%

7.972%

6.014%

6.998%

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