Need the answer in Excel, with formulas for calculations. Please provide screen image of answer and formula please.

Colson Company has a line of credit with Federal Bank. Colson can borrow up to $800,000 at any time over the course of the calendar year. The Unit 10 Template shows the prime rate expressed as an annual percentage along with the amounts borrowed and repaid during the year. Colson agreed to pay interest at an annual rate equal to 2 percent above the bank's prime rate. Please note that the interest rate for each month must be converted into a monthly rate by dividing by 12. Funds are borrowed or repaid on the first day of the month. Interest is payable in cash on the last day of the month. The interest rate is applied to the outstanding monthly balance. For example, Colson pays ((4 percent + 2 percent)/12) monthly interest on $80,000 for the month of January. Construct a chart calculating the loan balance at the end of each month and the interest expense for each month. Be sure the dollar amounts are formatted in dollars. Use the following Excel template:

A A B C D E F G 1 2 Month 3 January 4 February 5 March 6 April 7 May 8 June 9 July 10 August 11 September 12 October 13 November 14 December 15 16 17 Amount Borrowed or Prime (Repaid) at Rate on Effective the Loan Balance an Interest beginning of at the End of Annual Rate per Interest the month the Month Basis Month Expense $ 80,000.00 4.00% $ 50,000.00 4.25% $ (30,000.00) 4.50% $ 20,000.00 4.25% $ (45,000.00) 4.50% $ 10,000.00 5.00% $ (50,000.00) 4.75% $ 30,000.00 4.25% $ 25,000.00 4.25% $ (15,000.00) 4.00% $ (5,000.00) 4.00% $ 35,000.00 4.50% 18 19