we Aldempts Score 2 SEE WITH MRESPN 4. Problem 4-28 (PV and Effective Annual Rate) A-Z nore cBook PV and Effective Annual Rate Assume that you inherited some money. A friend of yours is working as an unpaid intern at a local brokerage from, and her boss as soling securities that call for payments of $90 (mentat 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 $875 each your money is now Invested in a bank that as a 10% nominal (quote) interest rate but with quarterly compounding. You regard the securities as being just as safe, and as squid, as your bank deposit, ss your required effective annual rate of return on the securities is the same as that on your bank depost. 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 11 Author ontents N Save & Continue Continue without saving N] to purchase wers on Che Lot of question Questions? led answers paid? ng? chegg? ? og answers g down? egg tulo