Which financial function calculates the number of payment periods for an investment or loan given fixed interest rate, periodic payment, and present value?
A)NPER
B)RATE
C)PV
D)IPMT

Question

Quizplus · Accepted Answer

The NPER function is used to calculate the number of payment periods required to repay a loan or reach a savings goal based on a fixed interest rate, periodic payment, and present value. It is the most appropriate function for the given scenario. The RATE function is used to calculate the interest rate for a loan or investment, the PV function is used to calculate the present value of a loan or investment, and the IPMT function is used to calculate the interest payment for a specific payment period of a loan.

Which Financial Function Calculates the Number of Payment Periods for an Investment