Question

The first person to get this right I will give brainlliest Suppose that you find the annual interest rate for a car loan is 12.6%. Since you want to know how much your monthly payments will be, you need to divide 12.6% by 12. You place 12.6% in cell B3. What would this formula look like?

here is examples

Answer 1

=B2*B3/1200

Step-by-step explanation:

Assuming the loan amount is in cell B2,

The annual interest would be B2*B3/100.

Dividing that by 12 to get the month amount, you get =B2*B3/1200

i.e., the 1200 takes care of the percent (divide by 100) and the 12 months (divide by 12) all in one go.