The location managers want new company cars. The chief financial officer has determined that the company can afford $$600$ monthly payments based on a $5\mathrm{.}25\%$ APR for three$-$year loans. Your first step is to calculate the loan.

Display the $3-$Finance worksheet. In cell E$2,$ insert the PV function using the periodic rate, the number of payment periods, and a negative value for the monthly payment.