Multiple Choice
Alex is using Excel to calculate the compound interest he will receive on an investment. His investment accrues interest on a quarterly basis. If the yearly interest rate is 8% and stored in Cell B3, what formula should Alex use to calculate the 1st quarter interest rate?
A) =B3/3
B) =B3/4
C) =B3*3
D) =B3*4
Correct Answer:
Verified
Correct Answer:
Verified
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