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Question
The PMT function in MS Excel is used to ______
Options
Calculate the total interest on a loan.
Calculate the periodic payment for a loan or investment.
Calculate the future value of an investment.
Calculate the present value of a series of payments.
MCQ
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Solution
The PMT function in MS Excel is used to calculate the periodic payment for a loan or investment.
Explanation:
Based on the interest rate and time period, the PMT function in Microsoft Excel calculates the fixed periodic payment (such as monthly EMI) for a loan or investment.
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