*Please post excel formula*

You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 4.7 percent for a 60-month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this 2 loan? 3 4 Input areo: 5 6 Cost of car $84,500 7 APR 4.70% 8 Number of months 60 9 Compounding periods per year 12 10 11 (Use cells A6 to 89 from the given information to complete this question. Your payment should be a positive value.) 12 13 Output area: 14 15 Payment 16 Effective interest rate 17 18 19 20 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show you 21 Nothing in this area will be graded, but it will be submitted with your assignment. 22 23 24 Graded Worksheet + Calculation MA