FUNDAMENTALS OF COMPUTER

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USING MICROSOFT EXCEL

ADJUSTING COLUMN WIDTH ROW HEIGHT IN EXCEL

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The ____ function requires a series of inputs regarding interest rate, loan amount, and loan duration, then calculates the resulting loan payment.
A
AVERAGE
B
PMT
C
MIN
D
MAX
Explanation: 

Detailed explanation-1: -PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate.

Detailed explanation-2: -PMT Formula in Excel Rate: It is the interest rate that we need to pay per period/time. If it is monthly payments, it will be like rate/12(rate divided by 12 months). If it’s quarterly, it will be rate/4(rate divided by 4 months). Nper: It is the number of periods in which the loan is to be paid back.

Detailed explanation-3: -What is the PMT function in Excel? The Excel PMT function is a financial function that calculates the payment for a loan based on a constant interest rate, the number of periods and the loan amount. “PMT” stands for “payment", hence the function’s name.

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.
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