EXCEL FORMULA PLEASE eg

You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 15% APR, compounded monthly, or borrow the moncy from your parents, who want an 8% interest payment every six months. Which is the lower nte? Complete the steps below using cell references to given data or prevous calculations. In some cases, a simple cell reference is all you need. To copy/paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a spedfic Excel function is to be used, the directions will spedfy the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the carliest appearance of the data in your formulas, usually the Given Data section. 1 In cell D11, by using cell references, calculate the EAR corresponding to borrowing on your credit card(1pt). 2 In cell D12, by using cell references, calculate the EAR corresponding to borrowing from your 3 In cell D13, type either credit card or parents depending on which EAR is the lowest (1 pt.)