In the PMT Function,what Is Not True About the Rate

question 62

Multiple Choice

In the PMT function,what is not true about the rate argument?

• A)It assumes an annual interest rate.
• B)It can contain references to fields.
• C)It is optional.
• D)It reflects the interest charged on a loan.

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Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, achieving market balance.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where demand and supply are equal.

Equilibrium Price

The cost at which the amount of a product or service that consumers want to purchase matches the amount available, leading to equilibrium in the market.

Supply Decreases

A reduction in the amount of a product or service that is available for sale, often resulting in higher prices if demand remains the same.