Which function calculates your monthly mortgage payment?
Question
Which function calculates your monthly mortgage payment?
Options
Option A
PV (present value)
Option B
NPER (number of periods)
Option C
PMT (payments)
Option D
All of the above
Correct Option
Option C
Explanation
PMT Syntax
Rate is the interest rate for the loan.
Nper is the total number of payments for the loan.
Pv is the present value; also known as the principal.
Fv is optional. It is the future value, or the balance that you want to have left after the last payment. ...
Type is optional.
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