Answer using excel. explain the execl function used.

59. Calculating Annuity Values An All-Pro defensive lineman is in contract negotiations. The team has offered the following salary structure: Time 2 O UWNO Salary $7,900,000 4,300,000 4,900,000 5,700,000 6,700,000 7,300,000 8,400,000 5 6 All salaries are to be paid in a lump sum. The player has asked you as his agent to renegotiate the terms. He wants a $10 million signing bonus payable today and a con- tract value increase of $3,500,000. He also wants an equal salary paid every three months, with the first paycheck three months from now. If the discount rate is 5.7 percent compounded daily, what is the amount of his quarterly check? Assume 365 days in a year