Question 3 Using EXCEL formulae. On January 1, 2021 a Company acquired machinery and issued a noninterest bearing note: Face amount Payable in $825,000 10 years Market interest rate 8% for similar borrowings 8 Answer the following questions: 9 10 11 12 13 14 15 16 17 18 1) What are the total number of interest periods? 2) What is the market interest rate per semi-annual interest period? 3) What is the face amount payable in 10 years? 4) Using the VLOOKUP function, identify the present value factor for the calculation of the present value of the face amount from the sheet 'PV of $1. 2 points 2 points 2 points 2 points 19 20 21 5) Calculate the present value of the face amount at January 1, 2021, using the PV factor from (4) above. 2 points 22 23 Note: points will only be assigned where the answer is determine using EXCEL formulae or cell references. 24 25 26 27 28 20