Question: May someone help me with what the formula would be on a calculator to get the solution. Will thumbs up Assume that you inherited some

May someone help me with what the formula would be on aMay someone help me with what the formula would be on a calculator to get the solution. Will thumbs up

Assume that you inherited some money. A friend of yours is working as an unpaid intern at a local brokerage firm, and her boss is selling securities that call for payments of $40 ( 1 payment at the end of each of the next 4 years) plus an extra payment of $1,000 at the end of Year 4 . Your friend says she can get you some of these securities at a cost of $900 each. Your money is now invested in a bank that pays an 8% nominal (quoted) interest rate but that on your bank deposit. You must calculate the value of the securities to decide whether they are a good investment. What is their present value to you? Do not round intermediate calculations. Round your answer to the nearest cent. Enter your answer as a positive value

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