There is no Flaming Crust Co without a woodfire oven and Jamie has her heart set on a red Maximus Prime which is a portable oven handmade in Portugal that can be modified for use in a food truck. The oven plus modifications and installation would cost $$8,000.$ Direct Loan, an online lender, offers a $0\%$ APR loan with $5\%$ establishment fee. The loan requires monthly repayments and has a term of one year. The establishment fee amount is based on the borrowed amount, and it is payable immediately. The monthly repayment amount is the borrowed amount divided by the number of monthly repayments.Use EXCEL to calculate the APR $($interest rate per year compounded monthly$)$ implied by the Direct Loan offer, by setting the present value of monthly repayments to $$8,000.$EXCEL Instructions: Prepare an EXCEL spreadsheet like the one shown below $($only some values are shown you will have to get Excel to work out the rest$).$ Refer to the Excel exercise in Week $2$ tutorial and How to videos for examples of using GoalSeek.Make sure that row and column names include your initials:Now use GoalSeek $($Data $$ What$-$If Analysis$)$ in EXCEL to find the APR implied in this loan:Include a copy of your before and after spreadsheet in the Appendix.