FUNDAMENTALS OF COMPUTER

DATABASE FUNDAMENTALS

BASICS OF BIG DATA

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which financial function allows Robyn to determine the amount she must pay each month on her car loan?

A	PV
B	PMT
C	Payment
D	RATE

Explanation:

Detailed explanation-1: -=PMT(17%/12, 2*12, 5400) For example, in this formula the 17% annual interest rate is divided by 12, the number of months in a year. The NPER argument of 2*12 is the total number of payment periods for the loan.

Detailed explanation-2: -PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate.

Detailed explanation-3: -The NPER Function[1] is categorized under Excel Financial functions. The function helps calculate the number of periods that are required to pay off a loan or reach an investment goal through regular periodic payments and at a fixed interest rate.

Detailed explanation-4: -The NPER function calculates the number of payment periods for an investment based on constant-amount periodic payments and a constant interest rate.

There is 1 question to complete.