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Go to Level 10 Samples Practice: Car Payment 1 Practice: Car Payment 2 Level 10: Calculate a Car Payment, part two

Creating Equations Select Cell B4 and use the Function tool to calculate the PMT arguments Remember, the Rate (Cell B4) is divided by 12 to get a monthly payment Your equation should look like this: =PMT(B2/12,B3,B1) The payment is a negative number   A B C D 1 Present Value $20,000     2 Interest 6.5%     3 Months 48     4 Payment (474.30)     Challenge Select Cell B4 and go to Tools -> Goal Seek See if you can get a lower payment, -350, by changing the number of months in Cell B3 What would you have to adjust to meet your goal of a paying =$350.00 for 60 months?