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3 years ago

The following formula is used to calculate the monthly payment on a personal loan.

Mathematics

2 answers:

Nikitich [7]3 years ago

8 0

Answer: interest rate per period

Step-by-step explanation:

horrorfan [7]3 years ago

6 0

Answer:

b. interest rate per period

Step-by-step explanation:

There are following terms while calculating the present value, future value, number of years, monthly payments, interest rate etc

Present value = PV

Future value = FV

Number of years = n

Interest rate per period = i

Monthly payments = P or PMT

So in the given options, the second option is correct

Plus we can find out the PMT by using the excel i.e

= PMT(Rate,NPER,PV,FV,type)

The present value or future value come in negative as the case may be

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