In Excel, which function is used to calculate the payment for a loan based on constant payments and interest rate, but for a given number of periods? MCQ with Answer and Explanation

In Excel, which function is used to calculate the payment for a loan based on constant payments and interest rate, but for a given number of periods?
A. NPER
B. RATE
C. PV
D. PMT
Answer: Option D
Solution (By JKExamLibrary)
PMT calculates the periodic payment. NPER calculates number of periods, PV present value, RATE interest rate.

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