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      Question

      In MS Excel, the function =PMT(rate, nper, pv) is used

      to calculate the:
      A Present Value of an investment. Correct Answer Incorrect Answer
      B Future Value of an investment. Correct Answer Incorrect Answer
      C Payment for a loan based on constant payments and a constant interest rate. Correct Answer Incorrect Answer
      D Net Present Value of an investment. Correct Answer Incorrect Answer

      Solution

      The PMT function in Excel is a financial function used to calculate the periodic payment for a loan (e.g., a mortgage or car loan) based on a constant interest rate (rate), the total number of payments (nper), and the present value of the loan (pv).

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