Grador - Instructions Excel 2013 Project Berk De Marzo_Harford. Problem 5-14. V9 Project Description: (19) In this problem, you will calculate the monthly payment of a loan. Steps to Perform: Step Instructions Points Possible Complete the steps below using cell references to alven data or previous calculations. In some cases, a simple coll reference is all you need. To copy/paste a formula across row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used, the directions will specify the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. Start Excel. Download and open the workbook named: Berk_De Marzo Harford Problem 5-14 Start. In cell 011, by using cell references, calculate the monthly interest rate. In cell 012, by using cell references, calculate the monthly payment of the loan. Note: The output of the expression or function you typed in this cell is expected as a positive number Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed Total Points Problem 5-14 Suppose Capital One is advertising a 60-month, 5.99% APR motorcycle loan. If you need to borrow $8,000 to purchase your dream Harley-Davidson, what will your monthly payment be? Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell reference is all you need. To copy/paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used, the directions will specify the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. APR Number of periods Periods per year Loan S 12 8,000 Monthly interest rate Monthly payment 15 Requirements In cell DII, by using cell references, calculate the monthly interest rate (1 pt.). In cell D12, by using cell references, calculate the monthly payment of the loan (1 pt.). Note: The output of the expression or function you typed in this cell is expected as a positive number