Use IF Function to create conditional logic upon which conditional formatting can be applied.

Complete the "Loan Size" column.

Use an IF function in cell N$3$ that will display "Large Loan" if the total payments in cell L$3$ are greater than $$10,000.$

Display "Small Loan" if the total payments in cell L$3$ are not greater than $$10,000.$

Reuse your formula in cell N$3$ to complete the "Loan Size" column.

Apply conditional formatting to the Loan Size column to set the background fill color to blue for the cells that contain the text "Small Loan".