When working with potential wedding parties, it is important they understand what the monthly payment will be if they will be using the financing option. In cell B10, use the PMT function to calculate the monthly payment amount necessary to pay off the amount borrowed in cell B9, at the end of the term in cell B6, using the interest rate in cell B5. Be sure the result of the PMT function is positive.

Financing Calculator \begin{tabular}{|ll|c|} \hline 2 & Credit Score & 725 \\ \hline 3 & Total Cost of Event & $37,000.00 \\ \hline 4 & Down payment & $3,500.00 \\ \hline 5 & Rate (Annualized) & 4.00% \\ \hline 6 & Term (in Years) & 2 \\ \hline 7 & Percentage Discount & 5.00% \\ \hline 8 & Amount of Discount & \\ \hline 9 & Total amount borrowed & 33,500.00 \\ \hline 10 & Monthly Payment & 1,454.73 \\ \hline \end{tabular} Percent Discount \begin{tabular}{|cc|} \hline 0 & 0.00% \\ 20000 & 1.00% \\ 30000 & 5.00% \\ 40000 & 7.50% \\ 50000 & 11.00% \\ \hline \end{tabular}