An auto dealership is advertising that a new car with a sticker price of $19,140 is on sale for $16,999 if you pay in cash, or you get a finance for 60 months with a monthly payment of $319. Note that 60 payments $319 per payment = $19,140, which is the sticker price of the car. By allowing you to pay in a series of payment (starting one month from now) instead of $16,999 in cash, the dealer effectively makes the loan of $16,999 to you.

If you choose the financing option, what is the interest rate that the dealership charges on your loan?

Please answer as Excel spreadsheet with steps!