_____ is the total number of payment periods in an annuity in financial function?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → nper
Nper is the total number of payment periods in an annuity. For example, if this loan is a four-year car loan and makes monthly payments, then loan has 4*12 (or 48) periods. The value for nper will be 48.