16 Aug Project Requirements For Part 2:Sports Plus is a sporting go

Project Requirements For Part 2:Sports Plus is a sporting goods retail store. They want to use Excelto help them decide the best way to fund a major building expansion.They have found two banks that will lend them the money for theexpansion. The terms from each bank are listed in the start file.Calculate the monthly payment amount and the total amount ofinterest paid for each option in the green cells. Be sure the amounts inthe calculated cells will change if the input values change. (Notes:For the terms offered by Bank 1, you must consider that the 0% DownPayment is an input and may change, so it should be included in thesubsequent calculations of the monthly payment and total interest paid.Also, be sure that the Bank 1 Annual Interest Rate is 3.5% and the Bank2 Annual Interest Rate is 4.0%)For the terms offered by Bank 1 complete the one-variable data tableto show the impact of changes in the Down Payment on the MonthlyPayment.For the terms offered by Bank 2 complete the two-variable data tableto show the sensitivity of the total interest paid amount to changes ininterest rates and changes in loan terms. Format the results of thetwo-variable data table to currency and round to the nearest dollar.Assume Sports Plus can negotiate the interest rate from Bank 2. Whatinterest rate should they request to make the total interest paid inthe loan from Bank 2 equal to the total interest paid in the loan fromBank 1?