From the attachment, I only need help with question three, not any other questions. Thank you!

ACCT: 2100 Introduction to Financial Accounting Fall 2016 Chapter 9 Take Home Quiz Background: The National Football League (NFL) reached a settlement with more than 5,000 retired players and agreed to compensate them for neurological damage from repeated hits to the head. Individual retirees are eligible to receive up to $5 million depending on the severity of their conditions. No money can be paid out of the fund until all appeals are exhausted. S.O. Watt, better known by his nickname LED, because he burned brighter and longer than any of his contemporaries, retired from the NFL in 2000. Based on his history of cognitive issues, LED believes that he will be entitled to a lump sum payment of $1,000,000 from the settlement fund. Anxious to receive his funds LED has approached Thrivest for a secured a loan to be repaid from his potential proceeds. Should LED's condition not qualify for a cash settlement, he will not have to repay Thrivest. Thrivest has agreed to let LED borrow against 25% of his expected payout. Thrivest compounds interest monthly. Required: 1. Why would Thrivest be unwilling to loan LED the full $1,000,000? 2. Calculate the loan proceeds if LED agrees to pay back $250,000 when (if) he receives his settlement. Assume Thrivest charges 24% interest and expects LED to receive his settlement payment in 12 months. a. Why would Thrivest charge such high interest rates? 3. Prepare an Excel spreadsheet to answer the following questions. In order to receive credit for your answers, you must attach a copy of your Excel spreadsheet printed with the formulas showing (\"Show Formulas\" option). a. Assume that Thrivest agrees to give LED $155,430 today in exchange for $250,000 to be repaid upon receipt of his settlement proceeds. i. In parallel columns, prepare an amortization schedule to show the loan balance at the end of each of the next 12 months at interest rates of 24% and 30%. Use the future value formula to calculate the monthly balances. ii. Assuming an interest rate of 24%, use your table to show when Thrivest expects LED to receive his settlement. iii. Assuming an interest rate of 30% use your table to show when Thrivest expects LED to receive his settlement. b. In order to avoid violating state usury laws which cap interest rates at 18%, assume Thrivest deducts a \"fee\" of $21,138 from the proceeds and charges interest of 18%. i. Calculate the proceeds assuming Thrivest expects to be repaid in 12 months. ii. Determine the annual effective interest rate on the loan. Add another amortization schedule to your table to solve this problem. Once again use the future value formula to calculate the monthly balances