Which of the following options in a financial function indicates the interest rate for a period?

FV Nper PV Rate

Rate

The correct answer is Option 4: Rate Parameter Explanation Rate Interest rate per period for the loan Nper Total number of payments for the loan. Its unit (e.g. year) should match with the unit of the interest rate. Pv Present value, i.e. the loan amount Fv Future value, which is taken as 0, is the balance at the end of the loan period Type Whether payment is made at the beginning (value=1) or at the end (value=0) of the period