NEED THE FORMULAS!!Do a financial analysis of options for the following business project: An estimated $5,000,000 is required for expanding the workshop and purchasing new equipment. The duration of this project is 10 months. Create a table and list each option in one row. All principal and interest payments will be scheduled for end of the period they are due. You will have the following columns in your table: Present value of the loan, annual interest rate, duration of loan in years, number of periods per year, periodic payment amount, future value of the loan, annual payments, Cumulative interest, Cumulative principal. For cumulative interest and cumulative principal, you'll be doing this in the Finance Table portion of the worksheet. Starting period will simply be 1, while ending period you'll need to use a simple multiplication function to figure out total number of periods. Financing options: Option 1: You started with $5,000,000 and used $400,000 cash from operating funds. Now you are borrowing the rest of the required amount from a bank who quoted a annual 3.5% interest rate, needs full payback of the loan within 5 years and asks for bimonthly payments. Use functions to compute periodic payment, cumulative interest, and cumulative principal to be paid. Option 2: Borrow $5,000,000 from a bank quoted an annual interest rate of 3.8%, do monthly payments during the payback period of 6 years. Find periodic and annual payments, also cumulative interest and cumulative principal. Option 3: Borrow $5,000,000 from a bank quoted 3.4% annual interest rate and do quarterly payments of $400,000. How many years does it take to pay the loan back? Round your answer to two decimals. Use your finding to calculate cumulative interest and Cumulative principal paid Option 4: take $150,000 monthly from the shop revenue for the duration of the project (10 months) and borrow the rest of the required money from a bank. Shop revenue money has an annual 2.5% opportunity cost compounded monthly. Bank has a quote for a 3.4% annual interest rate, 5 years payback period, with equal quarterly payments. Find the future value of store revenue taken for the project at the end of the shop development and periodic payments to the bank. Calculate Cumulative interest and principal payments. Option 5: Half the required money is taken out of an investment account that pays monthly interest at a 3% annual rate. The rest of the money is borrowed from a bank at a 4% annual interest rate, should payback within 3 years in equal monthly payments. Find the future value of the money taken from the investment account at the end of the shop development and periodic payments to the bank. Calculate Cumulative interest and principal payments. Amortization tables: Create amortization tables for each of the five financing options. This only applies to the bank loans, not the store revenue and investment account for options 4 and 5. Show periodic interest and principal payments, and the remaining balance after each payment.

Option 1 Loan APR Periods/year Payments (year) Future value of loan Period Interest Principal Balance Present Value (PV) Annual Interest Rate Duration in Years Periodic Payment (PMT) Future Value (FV) Annual Payments Cumulative Interest Cumulative Principal Periods/ Year Option Option 1: $4,600,000 loan at 3.5% APR. Bimonthly for 5 years. Option 2: $5,000,000 loan at 3.8% APR. Monthly for 6 years. Option 3: $5,000,000 loan at 3.4% APR. Quarterly payments of $400,000 Option 4: $150,000/month from store revenue for 10 months. 2.5% opportunity cost lost. Option 4: Finance the balance, $3,500,000 from the bank at 3.4% quarterly for 5 years. Option 5: $2,500,000 from investment account. 3% opportunity cost lost for 10 months. Option 5: $2,500,000 from the bank at 4.0% paid back monthly for 3 years Option 1 Loan APR Periods/year Payments (year) Future value of loan Period Interest Principal Balance Present Value (PV) Annual Interest Rate Duration in Years Periodic Payment (PMT) Future Value (FV) Annual Payments Cumulative Interest Cumulative Principal Periods/ Year Option Option 1: $4,600,000 loan at 3.5% APR. Bimonthly for 5 years. Option 2: $5,000,000 loan at 3.8% APR. Monthly for 6 years. Option 3: $5,000,000 loan at 3.4% APR. Quarterly payments of $400,000 Option 4: $150,000/month from store revenue for 10 months. 2.5% opportunity cost lost. Option 4: Finance the balance, $3,500,000 from the bank at 3.4% quarterly for 5 years. Option 5: $2,500,000 from investment account. 3% opportunity cost lost for 10 months. Option 5: $2,500,000 from the bank at 4.0% paid back monthly for 3 years