To calculate the number of quarterly payments required to pay off a loan,use the _______ function.
A)PMT
B)PV
C)FV
D)NPER

Question

Quizplus · Accepted Answer

The NPER (Number of Periods) function is used to calculate the number of payments required to pay off a loan with a fixed interest rate over a specific period of time. It takes inputs such as the interest rate, loan amount, and payment amount to calculate the number of payments needed to fully pay off the loan. Therefore, D)NPER is the best choice for this scenario.

To Calculate the Number of Quarterly Payments Required to Pay