Question: PLEASE HELP ON HOW TO ANSWER WITHIN EXCEL ; EXCEL ONLY Let's assume you open an certificate of deposit, and your Bank promises a rate

PLEASE HELP ON HOW TO ANSWER WITHIN EXCEL ; EXCEL ONLY

Let's assume you open an certificate of deposit, and your Bank promises a rate of 15% APR (Annual Percent Rate). The Bank officer mentions that the interest will be compounded quarterly. What is the Effective Annual Rate (EAR)? Please type the rate as percentage (i.e. 4.2 and not 0.042). Please do not type the \% symbol. 15.87 margin of error +/2%

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