Case 13-1 Matt, a financial consultant, is auditing a friend's document.
Matt wants to calculate the amount of loan payments his friend needs to make on certain loans. He enters the data regarding interest and total principal in the worksheet. Which of the following functions should Matt use to calculate this?
A)SUM
B)PMT
C)CONVERT
D)AVERAGE

Question

Quizplus · Accepted Answer

The PMT function is used in Excel to calculate the payment for a loan based on constant payments and a constant interest rate, making it the appropriate choice for calculating loan payments.

Case 13-1 Matt, a Financial Consultant, Is Auditing a Friend's