I am trying to find the formula and excel formula for interest expense starting at C16 based on the information provided.

Merchandise Cash Budget - 2019 Annual Interest Rate on Short Term Borrowings 12% 2019 Monthly Number of Average Loans 2019 2019 2019 Jan Mar April May June August Sept Oct Nov Dec Total 25,000 $ 1,004,250 Beginning cash balance Cash receipts: Cash available 4,862,500 3,150,000 2,275,000 5,900,000 2,275,000 1,840,000 5,900,000 3,000,000 3,000,000 5,900,000 44,827,500 3,735,625 2,275,000 4,450,000 $4,887,500$ 4,154,250 $ 2,275,000 $5,900,000 $ 2,275,000 $ 1,840,000 $5,900,000 $3,000,000 $ 3,000,000 $ 5,900,000$ 2,275,000 $4,450,000 Cash payments 300,000 $ Capital expenditures Purchases of Merch Inventory Selling and administrative expens Interest expense $25,000$600,000$15,000 $ 1,319,119 313,000 $ 125,000 $ $45,000 $ 1,110,000 4,212,250 306,000 528,054 4,212,2501,319,1195,260,238 5,260,238 589,969 313,000 528,0545,260,2385,260,238 350,000 105,306 357,000 92,500 33,855,0712,821,256 4,077,000 339,750 320,000 346,000 363,000 371,000 334,000 349,000 355,000 Total cash payments $4,543,250 $ 2,232,119 $ 856,054$ 4,532,250 $ 1,965,119 $5,623,238 $5,756,238 $ 923,969 $ 877,054 $ 5,610,238 5,660,238 $ 462,306 39,042,0713,253,506 Ending cash balance before financing 344,250$ 1,922,131 1,418,946 Minimum cash balance desired Projected cash excess (deficiency $(655,750922,131 418,946 1,367,750$ 309,881 (3,783,238) 143,763 $2,076,031$ 2,122,946 289,763 $ (3,385,238) $3,987,694 1,000,000) (1,000,000 367,750$ (690,119) (4,783,238) (856,238) $1,076,031$ 1,122,946(710,238) (4,385,238) $2,987,694 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000) (1,000,000) (1,000,000 1,000,000 1,000,000 Financing 660,000 Borrowing Principal repayments Total effects of financing 660,000 Ending cash balance 1,004,250