1. What formula would you use to calculate the value in B5?

A.PAYMENT

B.EFFECT

C.PMT

D.RATE

E.None of the provided answers

2. What are the references you would need to use in the formula in B5?

A. B2, B3, B1

B. B1, B2, B3

C. None of the provided answers

D.(B2, B3, B1) * 12

E. B2/12, B3, B1

Assume you are trying to save $50 per month for a new car. You can invest the amount in an account that has an annual interest of 3%. Please refer to the following spreadsheet to answer the next 2 questions. B5 B D E F A 1 Savings per Month 2 Interest Rate 3 Number of Months $(50.00) 3% 36 4 5 Future Account Balance 6 7 00 0 9