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Which function should you use to calculate the monthly payment on a loan?
Spot Rate
The current market price used to directly exchange one currency for another, for immediate delivery.
Forward Rate
The agreed-upon exchange rate for a currency transaction that will occur at a future date.
Average Rate
The average rate is a mean exchange rate over a specified period, used for accounting purposes to convert foreign currencies into the functional currency.
Foreign Exchange Gain
A profit resulting from changes in the exchange rate between the base currency and the foreign currency in which a transaction is denominated.
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