To calculate the number of montly payments required to pay off a loan or meet an investment goal,use the _______ function.
A)PMT
B)FV
C)PPMT
D)NPER

Question

Quizplus · Accepted Answer

The NPER (number of periods) function is used to calculate the number of monthly payments required to pay off a loan or meet an investment goal. It takes into account the principal amount, interest rate, and payment amount to determine the number of periods needed to pay off the loan or meet the investment goal. The other functions mentioned, PMT (payment), FV (future value), and PPMT (principal payment), are used in conjunction with NPER to determine specific aspects of the loan or investment, but do not provide the overall number of payments needed.

To Calculate the Number of Montly Payments Required to Pay