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please tell me how to calculate it by excel formula, thanks AB D E F G H 1 2 3 First National Bank charges 12.4

image text in transcribed please tell me how to calculate it by excel formula, thanks

AB D E F G H 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 8 Times compounded Stated rate (APR). per year First National Bank 12.4% 12 First United Bank 12.7% 2 Effective rate (EAR) 9 10 11 12 13

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