Author Question: Alex is using Excel to calculate the compound interest he will receive on an investment. His ... (Read 46 times)

joblessjake · **on:** Jun 24, 2018

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) =B33
D) =B34

Question 2

The date of a promissory note is entered in Cell A2 as a date; 4/10/2010, and the number of days before discount is entered in Cell A3 as a number, 35. What must be done in Excel to calculate the discount date?
A) Both Cell A2 and Cell A3 must first be converted to dates and then added together.
B) Both Cell A2 and Cell A3 must first be converted to numbers and then added together.
C) Subtract Cell A3 from A2.
D) Add cell A3 to A2.