With the PMT Function,the Type Argument Is _______ When the Payments

question 6

Multiple Choice

With the PMT function,the type argument is _______ when the payments are made at the end of each period.

• A)0
• B)1
• C)a
• D)-1

---

Definitions:

Payment

is the transfer of money or goods from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Future Value

The value of an asset or cash at a specified date in the future that is equivalent in value to a specified sum today.

Deposit

A sum of money placed or kept in a bank account, usually to gain interest.

Savings Account

A deposit account held at a bank or institution that pays interest but typically has limitations on how often withdrawals can be made.