Determine the Total Interest using a formula that multiples the monthly payment by the term in months and then subtracts the loan amount from the result.

Determine the Total Cost using a formula that adds the price to the total interest.

Liam wants to compare monthly payments for interest rates that vary from $3\mathrm{.}95\%$ to $5\mathrm{.}15\%$ and for terms of $120,180,$ and $240$ months. He has already set up the structure for a data table with the heading Varying Interest Rates and Terms.

Provide the comparison that Liam requests as follows:

a$.$ In the blank cell above the percentage list, enter a formula that references the Monthly Payment from the Loan Payment Calculator section because Liam wants to compare the monthly payments.

b$.$ Create a two$-$variable data table that uses the term in months as the row input cell and the rate as the column input cell.

In the list of interest rates, create a conditional formatting rule to highlight the rate that matches the rate for the Charles Street property in light red fill with dark red text.

For the Varying Interest Rates and Terms range, change the color of the left, right, and bottom borders to match the other outside borders in the worksheet.

Liam has three other options for purchasing the Charles Street property. In the first scenario, he could borrow additional money to fund a renovation of the building. He wants to determine the monthly payment for the renovation.

Use the monthly interest rate, the loan period in months, and the loan amount to calculate the monthly payment for the renovation scenario.

In the second scenario, Liam could pay back the loan in $20$ years instead of $15$ and reduce his monthly payments to $$6,000$ with an annual interest rate of $4\mathrm{.}5\%.$ He wants to know the loan amount he should request with those conditions.