An Expression or Integer Value Specifying Total Number of Payments

question 76

Multiple Choice

An expression or integer value specifying total number of payments in a loan is the ________ argument in the PMT function.

• A) rate
• B) num_periods
• C) present value
• D) future value

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Definitions:

Withdraw

Withdrawing money from a bank account or an investment.

Monthly Compounded

Interest that is calculated on the principal and previously earned interest once every month.

Nominal Rate

The advertised or stated rate of interest, not including the effects of inflation or compounding.

RRSP

Registered Retirement Savings Plan, a savings and investment vehicle for Canadians to save for retirement in a tax-efficient way.