Identify the Correct Formula to Calculate the Payment for a Loan,where

question 11

Multiple Choice

Identify the correct formula to calculate the payment for a loan,where rate =6%,loan amount = $2,000,and payments will be made monthly for six years.

• A)=PMT(.06, 6*12, 2000)
• B)=PMT(.06/12, 6*12, -2000)
• C)=PMT(.06, 6*12, -2000)
• D)=PMT(6, 6*12, 2000)

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