Excel Project II Instructions A+ Excel Project 11 Learning Objectives Calculate debt payment in Excel Create amortization schedule in Excel Analyze date and make business decision Prepare a professional memory Project Scenario Ryan Enterprises has a business plan for a OR Shopper, a start-up business. He is considering two financing alternatives for a business loan. Ryan is concemed about several issues that may influence the decision. One such issue is the comparative impact of the two alternatives on financial statements. Below are the two financing alternatives that Ryan Enterprises is considering: Alternative A: A seven-year business loan in the amount of $450,000 with a 4.25% interest rate. The terms of the loan require payments of principal and interest every six months at the end of each period (six-months). Alternative B: A five-year business lean in the amount of $450,000 with a 5.0% interest rate, The terms of the loan require payments of principal and interest every quarter at the beginning of each period (quarter) Required: Prepare the amortization schedule for each alternative. Create a separate worksheet for each schedule and name the tabs Altern and AlterB. For each amortization schedule you will need to calculate the loan payment and present the cumulative interest, principal payments, and outstanding balance. Follow the format in Exhibit 14-14 on page 789 of your textbook. The worksheets should be formatted professionally with proper hendings and numeric values formatted Prepare a memo to James Ryan, President of OR Shopper with your recommendation on which financing alternative would be the best option. This recommendation must be based on the information from the amortization schedules prepared and include cash flows and financial statement reporting impact. The memo should be on a Word document, in proper memo format, single-spaced, 12-font. See Chapter 10 in Effective Writing. A Handbook for Accountants by May and May for guidance on writing a memo