{"id":57553,"date":"2024-04-16T01:03:59","date_gmt":"2024-04-16T01:03:59","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=57553"},"modified":"2024-04-16T01:03:59","modified_gmt":"2024-04-16T01:03:59","slug":"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","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/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\/","title":{"rendered":"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."},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Financial.Pmt (0.09\/4, 3*12, 6000)&#8221; option2=&#8221;Financial.Pmt (0.09\/4, 3*4, 6000)&#8221; option3=&#8221;Financial.Pmt(0.09\/12, 3*12, 6000)&#8221; option4=&#8221;Financial.Pmt( 0.09\/12, 3*4, 6000)&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is: C. Financial.Pmt(0.09\/12, 3*12, 6000)<\/p>\n<p>The Financial.Pmt function calculates the periodic payment for a loan based on the following parameters:<\/p>\n<ul>\n<li>Rate: The interest rate per period.<\/li>\n<li>Nper: The number of periods.<\/li>\n<li>Pmt: The loan amount.<\/li>\n<li>Fv: The future value of the loan.<\/li>\n<li>Type: The type of payment (0 for end of period, 1 for beginning of period).<\/li>\n<\/ul>\n<p>In this case, we are given the following information:<\/p>\n<ul>\n<li>Rate: 9% per year, compounded quarterly. This means that the interest rate per quarter is 9\/4 = 2.25%.<\/li>\n<li>Nper: 3 years = 3*12 = 36 quarters.<\/li>\n<li>Pmt: $6000.<\/li>\n<li>Fv: $0 (we are assuming that the loan will be paid off in full).<\/li>\n<li>Type: 0 (end of period payments).<\/li>\n<\/ul>\n<p>Plugging these values into the Financial.Pmt function, we get:<\/p>\n<p>Financial.Pmt(0.09\/12, 3*12, 6000) = -$198.73<\/p>\n<p>The negative sign indicates that this is a payment, not a receipt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Financial.Pmt (0.09\/4, 3*12, 6000)&#8221; option2=&#8221;Financial.Pmt (0.09\/4, 3*4, 6000)&#8221; option3=&#8221;Financial.Pmt(0.09\/12, 3*12, 6000)&#8221; option4=&#8221;Financial.Pmt( 0.09\/12, 3*4, 6000)&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[731],"tags":[],"class_list":["post-57553","post","type-post","status-publish","format-standard","hentry","category-visual-basic","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following calculates the quarterly payment on a loan of $6000 for 3 years at 9% interest? 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Payments should be expressed as a negative number.\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Financial.Pmt (0.09\/4, 3*12, 6000)&#8221; option2=&#8221;Financial.Pmt (0.09\/4, 3*4, 6000)&#8221; option3=&#8221;Financial.Pmt(0.09\/12, 3*12, 6000)&#8221; option4=&#8221;Financial.Pmt( 0.09\/12, 3*4, 6000)&#8221; correct=&#8221;option3&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/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\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-16T01:03:59+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"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.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/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\/","og_locale":"en_US","og_type":"article","og_title":"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.","og_description":"[amp_mcq option1=&#8221;Financial.Pmt (0.09\/4, 3*12, 6000)&#8221; option2=&#8221;Financial.Pmt (0.09\/4, 3*4, 6000)&#8221; option3=&#8221;Financial.Pmt(0.09\/12, 3*12, 6000)&#8221; option4=&#8221;Financial.Pmt( 0.09\/12, 3*4, 6000)&#8221; correct=&#8221;option3&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/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\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-16T01:03:59+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/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\/","url":"https:\/\/exam.pscnotes.com\/mcq\/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\/","name":"Which of the following calculates the quarterly payment on a loan of $6000 for 3 years at 9% interest? 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