Which of the following arguments in a fi

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Target Exam

CUET

Subject

Accountancy

Chapter

Use of Spreadsheet in Business Applications

Question:

Which of the following arguments in a financial function represents the total number of payments?

Options:

Nper

Rate

Correct Answer:

Nper

Explanation:

The correct answer is option 3- Nper.

Nper arguments in a financial function represents the total number of payments.

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