Part A only and excel is appreciated.

20-14. You are the financial manager for Talc, Ltd., and the owner has just asked you to compute the effective annual interest rate on the loans the company currently has outstanding. The following is a list of these loans: a. $50,000; .5% monthly rate, maturity: 1 month b. $150,000,.6% monthly rate, maturity: 3 months c. $75,000, .75% monthly rate, maturity: 1 month d. $120,000; .8% monthly rate, maturity: 6 months