Please help with the following: "This means that the equal annual payments will be: ?

Please explain using Excel.

Example 6.3.1 Pure Discount Loans Pure disedunt laans are relatively simple sinee they are nothing more than a lump sum. Suppose we have a pure discount laan with the fellawing characteristics: Excel Tip 6.3.I As you can see, we find the present value using the PV function. To use the PV function, we need to choose the Formulas Tab, then choose Financial, then choose PV. You will see a window open, and then enter inouts accordingly. Example 6.3.2 Equal Payment Creating an equal payment amortization schedule is similar to the equal principal amortization schedule. First, we need to calculate the loan payment for the 15 year loan, which we can calculate usine the PMMT function we discussed under Section 6.2. The loan payment will be: Loan amount: $350,000 Interest rate: 9% This means that the equal annual payments will be: Equal payments: $43,420.61 So, the equal annual payment amortization table will look like this