use excel formula

You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 15% APR, compounded monthly, or borrow the money from your parents, who want an 8% interest payment evary six months. Which is the lower rate? Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell reference is all you need. To copyipaste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preforred. If a specific Excel function is to be used, the directions will specify the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data