In Excel, the function to calculate the payment for a loan based on constant payments and a constant interest rate is:  A. PV  B. FV  C. PMT  D. NPV

Using cell references, enter a formula in cell B6 to calculate monthly payments for the loan described in this worksheet. Omit the optional arguments. Use a negative value for the Pv argument.

Use the PMT function in Excel to compute the monthly payment on a $453000 business loan at an annual interest rate of 6.76% over 10 years, where the interest is compounded monthly.Hint: The PMT (Payment) function is entered in Excel as =PMT(Rate, Nper, Pv, Fv, Type).Fv and Type are not necessary. Ignore them.Enter the amount of your monthly payment below. Do not include the dollar sign ($).

We know the following two commands in Excel:PMT(rate, nper, PV, FV)FV(rate, nper, pmt, PV)Which of the following Excel commands gives the monthly payment on a house that cost $315,000 with a down payment of $28,725. The loan was a conventional 30-year loan with an annual interest rate of 5.2%.Group of answer choices=FV(5.2/12,360,-28725,-315000)=FV(0.052/12,30,-315000,-28725)=PMT(0.052/12,30,-315000,-28725)=PMT(0.052/12,360,-286275,0)=PMT(5.2/12,360,0,-286275)

We know the following two commands in Excel:PMT(rate, nper, PV, FV)FV(rate, nper, pmt, PV)Which of the following Excel commands gives the monthly payment on a business loan originally of 100,000 Peruvian Sols with a down payment of 4500 sols. The loan was a 10-year loan with an annual interest rate of 4.2%.Group of answer choices=FV(4.2/12,120,-4500,-95500)=PMT(4.2/12,120,0,-95500)=PMT(0.042/12,10,-95500,-4500)=PMT(0.042/12,120,-95500,0)=FV(0.042/12,10,-95500,-4500)

Virginia is considering taking out a loan to purchase more products to rent to customers. In order to purchase the products she needs, she has determined that she needs to borrow $12,000. She would like you to help her determine her monthly payment based on the loan amount, an interest rate of 7.5% with a repayment of the loan after 5 years.On the LoanData worksheet, in cell B6, determine the monthly payment.In cell B6, edit the formula to return an absolute value.