What is not a necessary piece of data needed for the Pmt function?
A)Interest rate
B)Amount already paid on the loan
C)Amount of the loan
D)Number of periods required to pay off the loan

Question

Quizplus · Accepted Answer

The amount already paid on the loan is not necessary for the Pmt function, as it is used to calculate the periodic payment amount for a loan and does not factor in any previous payments made. The necessary data for the Pmt function is the interest rate, amount of the loan, and number of periods required to pay off the loan.

What Is Not a Necessary Piece of Data Needed for the Pmt