PMT (rate, nper, $ p v,[f v=0] \quad[t y p e=0]) $
-In the figure above,nper stands for the ____.
A) total number of payment periods required to pay off the loan
B) total number of payment periods required to pay off the interest
C) number of payments per year
D) number of interest payments per year

Question

Quizplus · Accepted Answer

The nper parameter in the PMT function stands for the total number of payment periods required to pay off the loan. It represents the number of payments that are made over the life of the loan, and includes both principal and interest payments. Therefore, option A is the correct choice. Option B is incorrect because it refers only to the number of payment periods required to pay off the interest, which is not the same as the total number of payment periods. Options C and D are also incorrect because they refer to the frequency of payments rather than the total number of payments required to pay off the loan.

PMT (Rate, Nper pv,[fv=0][type=0]) p v,[f v=0] \quad[t y p e=0]) pv,[fv=0][type=0])

PMT (Rate, Nper $p v,[f v=0] \quad[t y p e=0])$