Marriott group of Hotels have purchased land for $200,000. They make a down payment of $40,000, and the remainder is financed at percent compounded semi-annually with semi-annual payments over 4 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 in such a way that it is X,2X,3X,... till the end of the last payment period. In addition, pay the accumulated interest at the end of each interest period.