In a PMT function, the ____ argument is the number of compounding periods.

Question

Quizplus · Accepted Answer

The nper argument represents the number of compounding periods and is required in the PMT function to calculate the periodic payment. The rate argument represents the interest rate per period, the pv argument represents the present value of the investment or loan, and the type argument represents whether the payment is due at the beginning (type=1) or end (type=0) of the period. However, only the nper argument is directly related to the compounding periods.

In a PMT Function, the ____ Argument Is the Number