Please Show Excel Formulas!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

1 2 3 First National Bank charges 12.4 percent compounded monthly on its business loans. First United Bank charges 12.7 percent compounded semiannually. As a potential borrower, which bank would you go to for a new loan? 4 5 Complete the following analysis. Do not hard code values in your calculations. 6 7 Effective rate (EAR) Times compounded per year 12 2 Stated rate (APR) First National Bank 12.4% First United Bank 12.7% 9 10 11 12 13