A B C D E F G H K L 1 Click on the "Loans PMT" tab and enter your name in Cell C1. If Cell C1 is left blank, you will not be able to see your score. 2 Each yellow cell requires a formula. 3 The formula must only contain cell addresses. 4 Each correct formula will begin with =, +, or -. 5 6 The basic mathematical operators are +, -, * and / 7 Addition: To add the values in cells A1 and B4, the formula is =A1+B4 8 Subtraction: To subtract the value in cell B4 from the value in cell A1, the formula is =A1-B4 9 Multiplication: To multiply the values in cells Al and B4, the formula is =A1*B4 10 Division: To divide the value in cell A1 by the value in cell B4, the formula is =A1/B4 11 12 Using the PMT function: 13 The PMT function has the following syntax: =-PMT(Rate, Nper, Pv, Fv, Type) 14 Note: To return the payment as a positive value, you must include a negative sign, either before the PMT or as a negative PV amount.A B C D E F G H BB 1 Name: Catherine Huguley Your score: 0% Catherine Huguley wants to buy a car and is considering several financing options. The car Catherine wants to buy costs $17,000. 1) Calculate the amount of each monthly car payment using the PMT function. 2) Calculate the W total amount of the car payments and 3) the total amount of interest paid over the term of the loan under the A following financing options. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must 5 refer to cell address(es). Entering a value will be marked as incorrect. 6 7 8 Amount financed $17,000 9 Payments per year 12 10 Financing Option Term (years) Annual interest 1) Monthly 2) Total 3) Total interest rate payment payments over paid over term 11 term 12 5 8.0% 13 2 3 7.0% 14 3 6 7.5% 15 A A 9.0%