You just won a prize of $18,500 at the local talent show. You can receive the money all up front (t=0), or get a series of monthly payments as described below. In all cases, your discount rate is 4% APR. (Assume all compounding is annual.) You may choose to get 38 monthly payments, with the first payment starting 6 months from now. Using an annuity formula, calculate the monthly payment that makes you indifferent between receiving the $18,500 all up front or in monthly installments as described above. This formula should appear in Box 1 on the spreadsheet and give the monthly payment amount. You must check this result by completing the table and summing all the present values of this monthly amount in Sum Column 1; the total of the values in this Column should equal $18,500. Across town, your friend has entered a similar contest, but the prize money payout schedule is already set: $450 today, followed by 39 monthly payments that grow this original payout at 3% APR. Your friends discount rate is 5% APR. (Assume all compounding is annual). What NPV does your friend receive from the prize? To do this, you must add the first $450 payment to the PV of all 39 of the future payments, determined by using a growing annuity formula. This formula should appear in Box 2 on the spreadsheet. You must check this result by completing the table and summing all the present values of the 40 monthly amounts in Sum Column 2.