What is the first step in entering a formula for future value of an investment in cell C5?

Opening the Formulas Ribbon Tab is the first step in entering a formula for the future value of an investment in cell C5 because this tab provides access to a variety of mathematical functions and formula-building tools necessary for calculating future value. Through the Formulas Ribbon, you can find specific financial functions, such as FV (Future Value), which allows you to input relevant parameters like interest rates, periods, and present values.

While other methods, such as typing the formula directly into the cell or clicking the Insert Function button, might work later in the process, accessing the Formulas Ribbon Tab first gives you a structured way to navigate through available functions and understand how to apply them, making the process smoother and more efficient.