Can you please show me how to solve this problem in excel? the answer is C, but I need to know if there is a simpler function(s) in excel I could use to solve this rather than just doing PMT*(1-(1/(1+r^n)))/r in a calculator to solve this. If not, please just say let me know if the following chegg answer is as simple as it gets:

https://www.chegg.com/homework-help/questions-and-answers/richard-wants-buy-new-car-afford-making-annual-payments-5-200-bank-offered-lend-money-5-12-q41902562

Richard wants to buy a new car and can afford making annual payments of $5,200. His bank has offered to lend him money at 5% for 12 years. He also has $8,000 that he can use as a down payment in addition to the loan amount. How much can Rico afford to pay for his new car? A. $60,017 B. $56,788 C. $54,089 D. $51,133 E. $47,694