The satellite executes a rotation motion around the earth, because Earth's force of attraction plays the role of centripetal force:
Fa=Fcp=>k*Mp*m/(Rp+r)²=mv²/(Rp+r)=>v=√(k*Mp/(Rp+r))=√(6.67*10⁻¹¹*5.98*10²⁴/(6371*10³+1000*10³))=√(39.88*10¹³/(7371*10³))=√(5.41*10⁷)=7355.53 m/s
Check the calculations again !