BE$3\mathrm{.}23\{$LO $3)$ Assume the same information as in BE$3\mathrm{.}22$ except that the note calls for quarterly instalment payments of $$1,000.$ Before repeating the calculation, try to predict the outcome of the calculation and determine if the total interest will be higher or lower than with an annual payment. Show calculations using $($a$)$ fi nancial calculator or $($b$)$ Excel function PV$.$