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 |
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