I'm not really sure whether MS Excel graphs continuous functions for you, but what you could do is use the A column as the 'X' variable, and the B column as the 'Y' variable.
Fill column A with your desired domain. For example, if you want to graph it from 0 to 10, make A1 '0', A2 '0.1', and then all the way up to '10.' You can make the stepsize/resolution whatever you like. It could be 0.1 each cell, or 1 each cell... the smaller it is, the more processing power is required but the smoother your graph will look.
In B1, type '=12*(1-EXP(-A1/58.75))' and then fill down so that it gives you the Y value for the X value (in column A) corresponding to it. Now, you can graph all those data points. Highlight all your data, create a graph, and pick XY (Scatter), or something like that.
Since you go to MHS: when you are expected to do graph printouts, they usually recommend
Graphmatica. It is freely downloadable on the Internet.