In the FV function,the rate argument refers to the:
A)total number of periods.
B)repayment type.
C)periodic rate.
D)payment.

Name: In the FV function,the rate argument refers to the: A)total number of periods. B)repayment type. C)periodic rate. D)payment.
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Question

Quizplus · Accepted Answer

The rate argument in the FV function refers to the periodic rate of interest, which is the interest rate applied to each period. It is not the total number of periods, repayment type, or payment. Therefore, the best choice is C.

In the FV Function,the Rate Argument Refers to The