Levi is thinking of purchasing some new equipment. He is thinking of investing the sum of his earnings which is $4835. He has checked with three banks and their interest rates and repayment periods in years are: Bank A: 7.25% over 3 years; Bank B: 6.75% over 4 years and Bank C: 5.75% over 5 years. Using the excel, in a new sheet calculate Levis monthly payments for each, and advise Levi on the best option.

show formulas used to make calculation in excel