Which of the following arguments in a financial function represents the total number of payments?
Answer & explanation
Correct answer: option 3
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 |