You can use the ____ function to calculate all types of loan payments, such as those for a car or for a house.
A)PMT
B)LOAN
C)NPV
D)SUM

Question

Quizplus · Accepted Answer

The PMT function (short for payment) is specifically designed to calculate loan payments. It takes into account the loan amount, interest rate, and the number of payment periods to determine the monthly or periodic payment required to pay off the loan. The LOAN function calculates the total amount of a loan based on the payment amounts, interest rate, and number of payment periods. The NPV function calculates the present value of an investment or series of cash flows, and the SUM function simply adds a group of numbers together.

You Can Use the ____ Function to Calculate All Types