Which of the Following Sections of Code Will Calculate the Monthly

question 15

Multiple Choice

Which of the following sections of code will calculate the monthly payment for a $150,000 house with a 30 year mortgage at an annual rate of 5.5%, and assign the result to dblMPay?

• A) Dim dblAIntRate as Double = 5.5
• Dim dblLoanAmt as Double = 150000
• Dim intYears as Integer = 30
• Dim dblMPay as Double
• DblMPay = Pmt(dblAIntRate / 12, intYears * 12, -dblLoanAmt)
• B) Dim dblAIntRate as Double = 5.5
• Dim dblLoanAmt as Double = 150000
• Dim intYears as Integer = 30
• Dim dblMPay as Double
• DblMPay = Pmt(dblAIntRate, intYears, -dblLoanAmt)
• C) Dim dblAIntRate as Double = 5.5
• Dim dblLoanAmt as Double = 150000
• Dim intYears as Integer = 30
• Dim dblMPay as Double
• DblMPay = Pmt(dblAIntRate / 12, intYears, -dblLoanAmt)
• D) Dim dblAIntRate as Double = 5.5
• Dim dblLoanAmt as Double = 150000
• Dim intYears as Integer = 30
• Dim dblMPay as Double
• DblMPay = Pmt(dblAIntRate, intYears * 12, -dblLoanAmt)

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Definitions:

Suffers A Loss

Experiences a reduction in value, resources, or money due to a particular event or transaction.

Qualified Opinion

An auditor's statement issued when they have reservations about aspects of the financial statements of a company.

Financial Statements

Documents that provide an overview of a company's financial condition, including balance sheets, income statements, and cash flow statements.

GAAP

Generally Accepted Accounting Principles; a set of accounting standards and practices used for financial reporting in the U.S.