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The term structure is the relation between maturity and YTM for pure discount bonds. Based on the information given, what is the 3-year rate implied

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The term structure is the relation between maturity and YTM for pure discount bonds. Based on the information given, what is the 3-year rate implied by the bond prices in the table? Maturity (years) Bond Price Bond Face Value 1 $969.46 $1,000 2. $937.86 $1,000 3 $909.57 $1,000 O 3.09% O 3.18% O 3.15% O 3.21%

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