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Using cell references, enter a formula in cell B6 to calculate monthly payments for the loan described in this worksheet. The annual interest rate is stored in cell B3, the number of payments in cell B4, and the loan amount in cell B2. Omit the optional arguments. The result of the formula should be a negative number.

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Answer:

Follows are the solution to this question:

Step-by-step explanation:

Following are the step which is used in the question:

  • Step 1, In this use the sheet on the formulas tab we use the function, that is the part of the FLG "Function Library group".
  • Step 2, In this step, click the Financial button, and after that click on the PMT.  
  • Step 3, after clicking on PMT apply or Enter the value that is "B3/12", in this it provides the rate argument box.
  • Step 4, after insert value in B4, it provides the Naper argument box, that input the value in "B2" cell into the Pv argument box.  
  • Step 5, After click the OK button.

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