When Used in the PMT Function, the Comma in 1,000

question 146

Multiple Choice

When used in the PMT function, the comma in 1,000 is interpreted as ____.

• A) the beginning of a new argument
• B) the end of a new argument
• C) part of the number
• D) none of the above

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Definitions:

Net Income

The total profit of a company after all expenses, including taxes and operational expenses, have been deducted from total revenue; essentially, it's the bottom line of the income statement.

Average Rate

A term often used in finance to describe the mean rate of return or the mean rate of interest over a specified period.

Fixed Asset

Fixed asset, also known as a non-current asset, is a long-term tangible piece of property or equipment that a firm owns and uses in its operations to generate income.

Useful Life

The estimated duration an asset is expected to be used in business operations, impacting depreciation calculations.