Function: PMT; Cell referencing$$Some cells are merged.Problem $6\mathrm{.}13-$ Computing Annuity Payment$$Student Work Area$$PROBLEM$$Required: Provide input into cells shaded in gray in this template.$$The Elkridge Bar & Grill has a seven$-$year loan of $$23,500$ with Bank of America. It plans to repay the loan in seven equal installments starting today. The interest rate is $8\mathrm{.}4\%.$Use the PMT function with cell references to the Problem area.$$Answer the following:$$Loan Period$7$If the rate of interest is $8\mathrm{.}4\%,$ how much will each payment be$.$Loan Amount$$$$23,500$Interest Rate$8\mathrm{.}4\%$Payment$$