Question: can anyone explain how to solve the problem? 34. Car Loan Payment Calculation Problem. Compute the Monthly Loan Payment using the template shown. You want

can anyone explain how to solve the problem?

34. Car Loan Payment Calculation Problem. Compute the Monthly Loan Payment using the template shown. You want to buy a 2019 Toyota Highlander, priced at 47,605. You have a down payment of $5,000. You want the balance to be in a 5-year loan. In B22, enter the VLOOKUP formula to get the annual interest rate using the table INTEREST range name ("Work Tables" sheet.) In cell B23, enter a formula to compute the monthly interest rate. In cell B24, enter a formula to compute the total number of payments. In cell B25, enter PMT() function to compute the monthly loan payment amount. (2+2+2+2=8) 18 19 Interest 20 3 21 4. 22 5 23 5.34% 4.71% 4.77%

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