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You are given information on the prices of the following three $1000 face value bonds: 1. 1-year zero-coupon bond selling for $950 2. 2-year zero-coupon
You are given information on the prices of the following three $1000 face value bonds:
1. 1-year zero-coupon bond selling for $950
2. 2-year zero-coupon bond selling for $900
3. 3-year 5% coupon rate bond selling for $920
What's the 3-year spot rate?
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