Exit 77-882 Excel 2010
Question 3 of 5
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Q3 Single choice

You work as an Office Assistant for Pecuniary Inc. You are creating a report in a workbook in Microsoft Excel. The company borrowed a sum of $1000000 at 6% interest rate, which is to be paid within 24 months. You are required to prepare a report in a workbook in Microsoft Excel, which shows the calculation of monthly installments to be paid to repay the loan.

Which of the following formulas will you use to accomplish the task?

  • A

    PMT(1000000, 6/12, 24, 0, 0)

  • B

    PMT(6%/12, 24, 1000000, 0, 0)

  • C

    PMT(1000000, 6%/12, 24, 0, 0)

  • D

    PMT(6/12, 24, 1000000, 0,0)

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