Question: How do I use the rate function in Excel? Function: RATE; Formula: Multiply; Cell Referencing Using Excel to Determine the Rate Earned on an Investme:

How do I use the rate function in Excel?

Function: RATE; Formula: Multiply; Cell Referencing Using Excel to Determine the Rate Earned on an Investme: PROBLEM Leon Tyler's has balance on his VISA card balance. He plans to pay it off in equal end-of-month payments. Information concerning the account is presented here. VISAbalanceMonthendpaymentsNumberofpayments$$79375.0012 Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. Use the RATE function to determine the annual interest rate Leon is paying. Display your answer as a positive amount. Annual interest rate

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