Please Calculate in excel... Show formula calculation in excel and answer the $2$ questions... CONSTRUCTION DRAW SCHEDULE

Assume that a construction budget is $$9,704,500.$ A construction lender is willing to fund up to $80\%$ of this amount including interest charges. The first four draw requests are $$1,557,938$ each excluding interest. The next four draw requests are $$259,656$ excluding interest. All draw requests are at the beginning of each month. The annual interest rate is $12\%$ determined on a monthly basis which is added to the outstanding loan amount.

$1.$ What is the cumulative amount of interest accrued over the period?

$2.$ Does the lender exceed his $80\%$ threshold?