MODEL 8: THE CONDOMINIUM PROJECT The Problem A condominium wants to start an annual program of collecting and saving money for a future capital project. A total of ten collections will be made, with the first collection made today. The parameters of the problem are: (1) the project's cost, if done today, is $100 000, (2) the project will be undertaken and paid for 10 years from today, (3) the cost of the project will grow at an expected inflation rate of 5% per year, (4) interest rate that can be earned by investing the accumulated balance over the years is 8% per year, and (5) the annual collection will be increased once a year at a constant growth rate of 3%. Make all of the above parameters input variables in your model. Create a model that will use the Goal Seek function to calculate the necessary amount of the first annual collection. Create an additional model that will use Excel's built-in PMT functions to calculate the necessary amount of the first annual collection. The model should use the FV argument of the PMT function. In other words, you will use the future value of an annuity