A family of Microsoft word processing software products for creating web, email, and print documents.
For the last paragraph, you do need Bottom Border because that isn't covered by "inside."
The method you're using for your table is the easiest and probably the best, but another approach is to apply the bottom border to the text in the cells instead of the cells themselves. If the cell padding (inside margin) alone is not enough separation, you can apply indents to the cell contents.