Crepus is interested in starting his own winery. However, with little to his name other than the clothes on his back, he realizes he will need some startup capital which he estimates to be about 500,000 euros. As his hometown is just a small one with few establishments, he sought out a loan from Northland Bank, located in the bustling neighboring city. For Crepus' new business venture and with no credit history, the bank make the following loan offer: 24% annual interest rate compounded monthly, payable over 5 years. Can on 10. Crepus successfully negotiates with Northland Bank that he makes his payments only at the end of every quarter. How much should the bank charge Crepus quarterly such that the new quarterly payment scheme is equivalent to the old monthly payment scheme? Model two separates but equivalent CEDs and solve. [10pts] 1d. Northland Bank recognizes that there is a risk of default with Crepus' new business venture. To mitigate this risk, they would like to propose an entirely new monthly payment scheme such that a cumulative amount totaling 500,000 euros would already have been collected by Northland Bank after only 2.5 years into the contract. In this new scheme, what is the equivalent value today of the total amount of money to be collected over the entire 5 years? Model the CFD and solve. (10pts)