Question: can you help me inputing the exact inputs into excel, I Know the hardcode formula but not how to exactly input in execl. The probelm

5-38. (Calculating an EAR) (Related to Checkpoint 5.7 on page 147) Based on effective interest rates, would you prefer to deposit your money in Springfield National Bank which pays 8.0 percent interest compounded annually or in Burns National Bank 7.8 percent interest compounded monthly? (Hint: Calculate the EAR on each account.) which pays 115 x fx . B C D E F G H K L 1 2 3 P5-38M Based on effective interest rates, would you prefer to deposit your money in Springfield National Bank, which pays 8.0 percent interest compounded annually or in Burns National Bank, which pays 7.75 percent interest compounded daily? (Hint: Calculate the EAR on each account.) 4 5 6 7 8 Hint to solve for EAR you can use either equation 5-4 on page 146 or the Excel EFFECT formula. i m EAR i m 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 EAR 27 28
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