PRACTICAL PART 2 Personal Loan Calculator Needs Grading Modify the loan approval worksheet that will determine if an applicant is eligible for a personal loan, and if eligible what interest rate should be applied. The bank manager has created the basic layout of the application he wants to use but has asked you to provide the formulas that will provide the information needed to approve loans. Using the IF function to determine eligibility for loan Any user who has a score less than 600 should be denied. a. Click on the Approval Form worksheet and create an IF statement in cell B12 to determine if the applicant is eligible for a personal loan. a. Use the criteria below: If the Credit Score >= 600, Approved, otherwise, Denied SAVE AND UPLOAD FILE (QUESTIONS 8) Question 9 Lookup information Needs Grading Using the data in the range G4:H10, create a VLOOKUP formula in cell B13 that uses the Credit Score in cell B8 to show/display the annual interest rate. SAVE AND UPLOAD FILE (QUESTIONS 9) Question 10 Calculate Monthly Payment Use the appropriate function/formula to calculate the Monthly payment a. Insert a row in the worksheet above row 14 (Payment). b. Type Periodic Rate: in cell A14. c. Calculate the periodic rate of the loan in cell B14. d. Calculate the monthly loan payment in cell B15. e. Calculate the lowest, highest, and average interest rates in the appropriate shaded cells K5 to K7. Needs Grading