Question: This problem will compute the monthly payments associated to a $20,000 car loan for various rates and terms. In cell B12, calculate the monthly payment

This problem will compute the monthly payments associated to a $20,000 car loan for various rates and terms.

In cell B12, calculate the monthly payment for a car loan if the annual percentage rate is equal to the value in cell B11 and the number of years is equal to the value in cell A12. Fill cell B12 across to cell E12. Format cells B12:E12 as Currency with 2 decimal places.

In cell B13, calculate the monthly payment for a car loan if the annual percentage rate is equal to the value in cell B11 and the number of years is equal to the value in cell A13. Fill cell B13 across to cell E13. Format cells B13:E13 as Currency with 2 decimal places.

In cell B14, calculate the monthly payment for a car loan if the annual percentage rate is equal to the value in cell B11 and the number of years is equal to the value in cell A14. Fill cell B14 across to cell E14. Format cells B14:E14 as Currency with 2 decimal places.

In cell B15, calculate the monthly payment for a car loan if the annual percentage rate is equal to the value in cell B11 and the number of years is equal to the value in cell A15. Fill cell B15 across to cell E15. Format cells B15:E15 as Currency with 2 decimal places.

In cell B16, calculate the monthly payment for a car loan if the annual percentage rate is equal to the value in cell B11 and the number of years is equal to the value in cell A16. Fill cell B16 across to cell E16. Format cells B16:E16 as Currency with 2 decimal places.

a.) Complete the table which computes these monthly payments, and make them positive by multiplying each one by -1. Format as currency with two decimal places.

Years	Monthly Payments
	1%	4%	7%	10%
3	B12	C12	D12	E12
4	B13	C13	D13	E13
5	B14	C14	D14	E14
6	B15	C15	D15	E15
7	B16	C16	D16	E16

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