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Question

Which of the following calculates the quarterly payment on a loan of $6000 for 3 years at 9% interest? Payments should be expressed as a negative number.

a.

Financial.Pmt (0.09/4, 3*12, 6000)

b.

Financial.Pmt (0.09/4, 3*4, 6000)

c.

Financial.Pmt(0.09/12, 3*12, 6000)

d.

Financial.Pmt( 0.09/12, 3*4, 6000)

Posted under Visual Basic

Answer: (b).Financial.Pmt (0.09/4, 3*4, 6000)

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Q. Which of the following calculates the quarterly payment on a loan of $6000 for 3 years at 9% interest? Payments should be expressed as a negative number.

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