formula is there pls help

5-12 (similar to) Amortization schedule with periodic payments. Moulton Motors is advertising the following deal on a used Honda Accord: "Monthly payments of S247.54 for the next 48 months and this beauty can be yours!" The sticker price of the car is $9,400. If you bought the car, what interest rate would you be paying in both APR and EAR terms? What is the amortization schedule of the first six payments? ut you bought the car, what monthly interest rate would you be paying? % (Round to five decimal places.) 1 [1/(1+r PV=PMTX where PV = present value of an ordinary annuity PMT = annuity payment r= APR/m, periodic interest rate n= the number of periods Since we cannot isolater on the left-hand side of the equation, we must estimate r using an iterative process that requires plugging in different estimates of runtil we narrow in on its correct value. Alternatively, you can find the interest rate of an ordinary annuity using a financial calculator or an Excel spreadsheet. When solving for the interest rate of an ordinary annuity using a financial calculator, you will need to set the calculator to END mode and input the values of N, PV, PMT, and FV. Make sure P/Y and C/Y are set to 1 and you enter a zero for FV, which is not used in the problem. When solving for the interest rate of an ordinary annuity using an Excel spreadsheet, you will need to enter the values of Nper, Pmt, Pv, Fv, and Type into the interest rate function. Type is equal to 1 if the payments are made at the beginning of the periods and if at the end, Amortization schedule with periodic payments. Moulton Motors is advertising the following deal on a used Honda Accord: "Monthly payments of S247.54 for the next 48 months and this beauty can be yours." The sticker price of the car is $9,400. If you bought the car, what interest rate would you be paying in both APR and EAR terms? What is the amortization schedule of the first six payments? If you bought the car, what monthly interest rate would you be paying? 1% (Round to five decimal places.) If you bought the car, what annual percentage rate (APR) would you be paying? % (Round to two decimal places)