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Name: ___Date: ___
BLM 45. Section 4.2 Extra Practice
1. Calculate the monthly fixed cost
for each vehicle.
a) $287/month for financing;
$201/month for insurance
b) $435/month for financing;
$2105/year
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How to fill out use form pmt function
How to fill out use form pmt function
01
Determine the required input values for the PMT function: rate, nper, pv, [fv], [type]
02
Input the values in the correct order: rate (interest rate), nper (total number of payments), pv (present value), [fv] (future value), [type] (when payments are due)
03
Use the formula PMT(rate, nper, pv, [fv], [type]) to calculate the payment amount
04
Ensure all values are consistent with each other (e.g. interest rate per period matches the total number of payments)
05
Double check the result to ensure accuracy
Who needs use form pmt function?
01
Finance professionals
02
Individuals calculating loan payments
03
Anyone working with financial or investment calculations
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What is use form pmt function?
The use form PMT function is typically utilized in financial calculations to determine the periodic payment amount required to pay off a loan or an investment based on constant payments and a constant interest rate.
Who is required to file use form pmt function?
Individuals or businesses that are seeking to calculate payment amounts for loans or investments using the PMT function are required to use this form.
How to fill out use form pmt function?
To fill out the use form PMT function, you need to input the interest rate, number of periods, and present value of the loan or investment. The syntax is PMT(rate, nper, pv).
What is the purpose of use form pmt function?
The purpose of the use form PMT function is to provide a standardized method for calculating the amount of fixed payments needed to repay a loan or investment over time.
What information must be reported on use form pmt function?
The information that must be reported includes the interest rate, total number of payments (periods), and the principal amount of the loan or investment.
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