Customers often want to see a breakdown of loan payments. Your assistant started a loan amortization table for you. Now, you are ready to complete it$.$ First, you will calculate the APR.

Display the Loan worksheet. In cell B$3,$ insert the RATE function. Use the cell references to the price, term, and monthly payment. Multiple the result by $12$ using a cell reference to calculate the APR. Make sure the function returns a positive value.