The Excel Formula to Compute the Annual Payment for a Car

question 33

Multiple Choice

The Excel formula to compute the annual payment for a car loan of $30,000 at 5% interest rate over five years is:

• A) =PMT(5,0.05,30000)
• B) =PMT(30000, 0.05,5)
• C) =PMT(0.05,60,30000)
• D) =PMT(0.05,5,30000)

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