Now go to the worksheet named Car Loan. The restaurant wants to buy another delivery vehicle to

expand the business. To do so$,$ they will need to take out a $$40,000$ loan, and can afford to pay $$850$ a

month. The bank is offering a $6\mathrm{.}3\%$ annual interest rate for a $4$ year loan, or $6\mathrm{.}5\%$ for $5$ years. In column

B$,$ fill in the interest rate, years, and loan amount for a $6\mathrm{.}3\%$ rate for $4$ years.

$15)$ Change the cell format for each of the B cells. Make B$3$ a percentage, and B$5$ currency. Double check

the values that you typed in$.$

$16)$ In B$8,$ use the PMT function to calculate the monthly payment. Use cell references instead of typing in

the values.

$17)$ Now that you have a working loan payment calculator, copy A$3$:B$8$ into D$3$:E$8.$ Change the interest rate

and loan length to $6\mathrm{.}5\%$ and $5$ years. Which of the loans can the restaurant afford?

$18)$ Save your file.