To calculate the annual rate,you must _______ the value returned by the RATE function by the number of payments per year.
A)add
B)subtract
C)multiply
D)divide

Question

Quizplus · Accepted Answer

To calculate the annual rate, you need to multiply the value returned by the RATE function by the number of payments per year. This is because the RATE function returns the periodic rate, which needs to be annualized by multiplying it with the number of payments per year.

To Calculate the Annual Rate,you Must _______ the Value Returned