You are thinking to buy $25,000 car today and take a $25,000 loan (0% down payment) that will need to be paid off in 6 years and you are required to make a monthly payment starting next month for 6 years. The nominal interest rate on this loan is $3% APR and it is compounded monthly. What is your monthly payment? Please show your excel formula in your answer and explain step-by-step calculation to arrive to your answer