PLEASE SOLVE WITH EXCEL! Thanks!

In a discount interest loan, you pay the interest payment up front. For example, if a 1-year loan is stated as $42,000 and the interest rate is 8.50%, the borrower "pays" 0.0850$42,000=$3,570 immediately, thereby receiving net funds of $38,430 and repaying $42,000 in a year. a. What is the effective interest rate on this loan? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. b. What is the effective annual rate on a 1-year loan with an interest rate quoted on a discount basis of 18.50% ? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places