Private Equity Technical Emphasis

I've progressed through a few rounds of a top 40 REPE firm. I recently got an email to take an excel test and set up an interview with a few people who I would be working closely with in the role. 

I did not do well with the excel test, which covered basic financial modeling. I was under the impression I wasn't able to use resources as it was a test on my knowledge, and I forgot how to calculate NPV :/. I feel like I generally have relied on template models throughout my internships. My education is in urban planning, but I've had a lot of real estate internships, and recently enrolled in a certificate program to try to further my financial modeling.

I have the interview with a few people I would be working closely with in the role coming up soon, but I'm not sure if I should even go through with it because I'm so embarrassed by the test. My results probably make me look incompetent or like I lied on my resume. 

What would you do if you were in my position? Do you think they may look at my candidacy holistically, or will I be booted?