Question

Create a formula using the PMT function to calculate the monthly loan payment using interest rate...

Create a formula using the PMT function to calculate the monthly loan payment using interest rate and loan period values in cells C4:C8. Enter the formula with a - (negative) sign to return positive value. Do not specify values for the optional arguments fv or type.

Loan amount: $1,000,000

Interest Rate APR- 5.0%

Monthly Interest Rate- 0.4%

Payment periods (years)- 5

Period (months)- 60

Math   Advanced-Math   
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The solution is fully explained.. but if you have doubts please ask them.

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