I need to know how the equation for p is done in excel.

Financial Analysis Problem Create a table which compares loan payment amounts for different interest rates and different loan terms. To simplify your analysis, you will use a simple loan payment formula which considers the loan amount (A), payment (P), interest rate per period (r) and the number of periods (n) over which the loan is paid. P=1(1+r)nr(A) - In the upper left hand corner of the first worksheet provide heading information as described above. - Provide a description of the sheet. - Create a small "input table" that allows for the user to enter the loan amount. For grading purposes, please submit your file with the Amount borrow =$15,000. This cell, however, should be directly referenced by the payment tables below (using absolute referencing), so changing the value of the cell should change the payment amounts displayed. - Create a well formatted Payment table that will compare different interest rates versus length of Ioan in months. To do so, use the Fill feature to generate a column of interest rates from 6.0% to 9.5% in 0.25% increments. Then, generate a row of terms from 12 to 72 months in increments of 12 months. Note, the headings should be center justified, bold font. You may need to use the Wrap Text option and the Merge Cells option to create well organized labels. - Fill the values of the different cells in the table, carefully using relative, mixed, and absolute cell referencing techniques. - Above the upper right corner of the table, use the Equation Editor to include the equation used for calculating the payments. - Now create a similar table directly below the one just created, but use Excel's PMT function PMT(rate, nper, pv, [fv], [type]) to determine the return of investment. - Carefully match the arguments of this Excel function with the variables used above in the loan payment equation. - Omit the [type] entry. It is not needed in this case. - Effectively format your sheet by appropriately using percentage and dollar formats, bold fonts, font sizes and borders