J&J Cattle has purchased a quarter section of land for $160,000. They make a down payment of $20,000, and the remainder of the purchase price ($140,000) is financed at 11 percent compounded quarterly with quarterly payments over 2 years. Develop an Excel table to illustrate the payment amounts and schedule for the loan, assuming payback follows a) Plan 1: Pay the accumulated interest at the end of each interest period and repay the principal at the end of the loan period. b) Plan 2: Make equal principal payments, plus interest on the unpaid balance at the end of the period c) Plan 3: Make equal end-of-period payments d) Plan 4: Make a single payment of principal and interest at the end of the loan period. e) A different plan: Pay off the principal per the table below. In addition, pay the accumulated interest at the end of each interest period. Quarter123 4 Principal $X $2X $5X $4X $3X $3X $2X $X For each of the five payment schedules, determine the present worth of the loan payments made by the borrower. Use an ExcelB spreadsheet and program it such that you can enter different interest rates for the borrower's TVOM. Use TVOM rates of 8 percent, 11 percent, and 14 percent compounded quarterly. (Show your analysis and justification by drawing a graph)