4. You win a lottery with a prize of $1.5 million. The prize is paid in ten equal annu installments. The first payment is one year from today. Your bank offers youa interest rate of 1% per month (effective). What is the present value of these payments? Work out the answer in two ways. Firs use the annuity formula. Be careful about which interest rate you plug into the formul Second, use Excel. Do not use the PV or NPV formulas in Excel. Instead, find th present value of each payment using our present value formula PV = FV/(1+r) using the monthly effective rate as r. Then add the ten present values to get the P of the stream. These two answers should be the same