Correctly Set Up an NPER Function, Assuming You Are Solving

question 60

Essay

Correctly set up an NPER function, assuming you are solving for how many years it will take to pay off a loan. You do not have to do the calculations-just set up the formula based on the facts below:
• NPER(rate,pmt,pv,fv,type)
• The rate per year is 3.5% compounded quarterly.
• The payment (pmt) is -$25,000 per quarter.
• The present value (pv) is $400,000 because the bank has offered to fund all of the capital required for the project.
• The future value (fv) is assumed to be $0 because no mention is made of any residual amounts owed at the end of the loan.
• The type argument is assumed to be the default 0.

---

Definitions:

Mental Ability

Refers to the capacity for logical reasoning, understanding complex ideas, learning from experience, and adapting to new situations.

Vocations

Refers to occupations, professions, or careers, particularly those for which individuals are trained or have a special aptitude.

Learning Disabilities

Learning disabilities are neurologically-based processing problems that can interfere with learning basic skills and higher level skills like organization and time planning.

Projective Tests

Psychological assessments that use ambiguous stimuli to elicit responses that reflect aspects of an individual's personality, motivations, or desires.