Can you do it in Excel with the formulas? Thanks in advance. Suppose you inherited money. A friend works as an intern at a local brokerage and his boss is selling securities that require 4 payments: $ 50 at the end of the next 3 years and a payment of $ 1,050 at the end of year 4. Your friend says he can get you some securities for $ 900 each. You have your money invested in a bank that pays you 8% nominal (quoted) interest, but with interest compounded quarterly. He thinks that the securities offer the same security and liquidity as the bank deposit, so that the effective annual rate on them is equal to that of the bank deposit. You must calculate the value of the securities to decide if they are a good investment. What is its present value to you?