For this part of the course project, you will demonstrate your ability to illustrate the functions and impact of banking and monetary institutions and to provide a recommendation guided by them.In your role as a financial advisor at Eagle Consulting, you are performing a complete financial analysis for Melinda Jacobsen, a successful business executive who is retiring in 10 years. A portion of this analysis covers the question of whether Ms. Jacobsen should refinance her home in order to provide additional funding for a long-term retirement investment.Because “above and beyond” customer service is critical to the success of Eagle Consulting, in addition to providing a recommendation on possible refinancing options, you want to provide Ms. Jacobsen with some background information on the Federal Reserve and how it affects interest rates.Using the information about Melinda Jacobsen’s goals and the information you uncover during your research, you will write a recommendation document that explains the Federal Reserve, how the Federal Reserve affects interest rates, possible loan options, and a final recommendation for what loan she should choose.To complete this assignment, do the following:Download and read the Eagle Consulting Info Sheet.Write a 3 page recommendation structured in three parts:Explanation of how the Federal Reserve impacts interest rates (1.5 pages)Explanation of loan options (1 page + Excel chart)Recommendation for a loan (.5 page)See below for details on each of the three parts.Part 1: Federal Reserve’s Impact on Interest RatesDiscuss how the Federal Reserve uses the following tools to impact interest rates and the economy:Open market operationsDiscount rateReserve requirementsPart 2: Loan OptionsResearch the current mortgage interest rates for a 10-year, 15-year, 20-year, and 30-year loan.In Excel, graph the interest rates using years as the X-axis and interest rates as the Y-axis.Using the graph, describe the following:Type of yield curve presented in the graphRelationship between interest rates and number of years to maturityImpact that risk and inflation has on the interest rates as the maturity date is lengthenedPart 3: RecommendationMake a recommendation to Ms. Jacobsen on what mortgage loan to take (10-year, 15-year, 20-year, or 30-year).Justify your recommendation.