Independent Challenge 2 As a senior financial analyst at North Shore CPA Services, you are researching various options for financing a $250,000 loan for the purchase of a new estate-planning facility. You haven't decided whether to finance the project for three, four, or five years. Each loan term carries a different interest rate. To help with the comparison, you summarize these options using a scenario summary. You will also create a two-input data table to analyze additional interest rates and terms. a. Start Excel, open IL_EX_12-6.xlsx from the location where you store your Data Files, then save it as IL_EX_12_Loan. b. Create cell names for cells B4:B11 based on the labels in cells A4:A11, using the Create Names from Selection dialog box. c. Use Scenario Manager to create scenarios that calculate the monthly payment on a $250,000 loan under the three sets of loan possibilities listed below. (Hint: Create three scenarios, using cells B5:B6 as the changing cells.) d. View each scenario and confirm that it performs as intended, then display the 5%5 Year scenario. e. Generate a scenario summary titled Finance Options. Use cells B9:B11 as the Result cells. f. Delete the Current Values column in the report and the notes at the bottom of the report, row 1, and column A. Rename the sheet Estate Planning Project. g. Activate the Loan sheet. Using FIGURE 12-27 as a guide, enter the input values for a two-input data table with varying interest rates for 3-, 4-, and 5-year terms. Use a linear series to enter the interest rates. h. Reference the monthly payment amount from cell B9 in cell A13, then format the contents of cell A13 so they are hidden. on the monthly payments. (Hint: Use cell B6, Term in Months, as the Row input cell, and cell B5, the Annual Interest Rate, as the Column input cell.) j. Format the range B14:D22 as currency with two decimal places. k. Group the two worksheets, then enter your name in the center section of the grouped footer. 1. Save the workbook, close the workbook, submit the workbook to your instructor as directed, then close Excel 
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