200
231.99
345
324.99
Answer is Right!
Answer is Wrong!
The correct answer is $\boxed{\text{B) }231.99}$.
The Financial.Pmt function calculates the periodic payment for a loan based on the following parameters:
- Principal: The amount of money borrowed.
- Interest rate: The annual interest rate, expressed as a decimal.
- Number of payments: The total number of payments to be made.
- Payment frequency: The frequency of payments, in months.
In this case, the parameters are:
- Principal: $12000$
- Interest rate: $0.06/12 = 0.005$
- Number of payments: $5*12 = 60$
- Payment frequency: $12$
The formula for the Financial.Pmt function is:
$$PMT = -\frac{P}{1-(1+r)^-n}r$$
where:
- $P$ is the principal
- $r$ is the interest rate
- $n$ is the number of payments
Substituting the values for the parameters into the formula, we get:
$$PMT = -\frac{12000}{1-(1+0.005)^-60}0.005 = 231.99$$
Therefore, the output of the following Visual Basic expression is $\boxed{\text{B) }231.99}$:
Financial.Pmt (0.06/12, 5*12, 12000)