In the Excel PMT function,the term used to indicate the interest rate for a loan is called ________.
A)Present value (Pv)
B)rate
C)Future value (Fv)
D)payment period

Question

Quizplus · Accepted Answer

The term used to indicate the interest rate for a loan in the PMT function is "rate". Present value (Pv) refers to the current value of a series of future payments or investments, Future value (Fv) refers to the value of an asset or investment at a specified date in the future, and payment period refers to the frequency of payments (e.g. monthly, quarterly) made towards a loan or investment.

In the Excel PMT Function,the Term Used to Indicate the Interest