Please don't use Excel for solving this problem. Thank you

4. Harte Securities Corp. plans to purchase either (1) zero-coupon bonds that have ten years to maturity. a par value of $100 million, and a purchase price of $41 million, or (2) bonds with similar deftault risk. $41 million. Harte can invest $41 million for five years. Assume Harte's financial analyst forecese of investors' required rexpected return (yield) over the five-year investment horizon? 5. Hewett Investment Company manages a bond portfolio comprised of the following bonds: Hewett's treasurer expects that in four years, investors in the market will require an 8% return on the zero-coupon bonds, a 7% return on the Treasury bonds, and a 9% return on corporate bonds. Estimate the market value of the bond portfolio four years from now