If you don't know the number of periods for a loan but you know the present value,payment,and number of interest rate,you can use the ________ function to determine the number of periods.

Question

Quizplus · Accepted Answer

The NPER function (number of periods) is used to find out the number of payment periods required to pay off a loan. It requires the present value, payment amount and interest rate as inputs. Therefore, option D is the correct choice. Options A, B and C are not suitable for this scenario. The GUESS function is used for iterative calculations, PMT function is used to calculate the payment amount, and RATE function is used to calculate the interest rate.

If You Don't Know the Number of Periods for a Loan