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Default Change cell font color if time is by 15 minute intervals upto 2hr

Hi, if time = 06:00hrs in A1 what formula would be required in A2 for the
font colour to change red if by 15 minutes, green if by 30 minutes and
hopfully blue, yellow etc in incrimants of 15 minutes upto 2 hours.

Many thanks in advance,

Rico. Extreme Novice!!
 
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