[There are two problems in this assignment. Put your work of two problems in two separate worksheets in the same Excel le. The due date is May 1. Instructions: Input: you need to create INPUT area to contain all key assumption data. Output: each of the o_utpit cell, e. g. payment, interest, end balance must contain a formula which performs calculations referring the number in the input cell. NEVER enter numbers directly in the output cells to compute. For instance, suppose the given interest rate is 5% in cell Al, the given PV is $100 in cell A2 and the given time period is 2 years in cell A3. To calculate the future value, you must enter =FV(A1, A3,0_, -A2,0) , instead of=100*1.05"2 . (30 pts deduction for not setting the input-output relationship appropriately or not using the Excel nance functions) Format: Your numerical displays must be in appropriate formats: 1000 separator, two decimal places and $, % symbols. Color: F ill color in your answer cells. Problem 2. An MLB baseball player is offered a ve-year contract in the payment schedule as follows: 2,000,000.00 {signing bonus] 2,500,000.00 2,500,000.00 3,000,000.00 3,000,000.00 2,800,000.00 A. Assume the interest rate is 8%. What is present value of his contract? [10%) B. The player wants to see his paycheck increase 5% each year. That is, his next year's pay is 5% higher than whatever the signing bonus is, and the second year's pay is 5% higher than the rst year's pay and so on. If you are the manager of the team, hootr his payment schedule should be rearranged and the present value ofhis contract can stay the same? {20%) Your answer worksheet should: (1) Specify the Excel functions that you used. (2) Tabulate the original pay schedule and new pay schedule and calculated the PV. (3) Show how each year's pay is linked with previous year's pay in the Output data cells