Which function will return the total number of periods on a $20000 loan at 5% interest and a $600 payment?
A)NPER
B)RATE
C)IPMT
D)PPMT

Question

Quizplus · Accepted Answer

The NPER function calculates the total number of periods required to pay off a loan, given a fixed payment amount, interest rate, and present value. Therefore, to calculate the total number of periods on a $20000 loan at 5% interest and a $600 payment, we need to use the NPER function.

Which Function Will Return the Total Number of Periods on a $20000