In what cell is the Rate for PMT function where = PMT (C8, C9, C10, C11, C12)?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → C8
The PMT function works out the periodic payment of a loan or annuity. Its arguments always come in a fixed order: =PMT(rate, nper, pv, [fv], [type]). So in =PMT(C8, C9, C10, C11, C12) the first cell, C8, holds the rate.
C8 — rate, the interest rate per period
C9 — nper, the number of periods
C10 — pv, the present value
C11 — fv, the future value
C12 — type, 0 for payment at the end of a period, 1 for the beginning
NCERT (2026-27 edition):
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