John is applying for a 15 year fixed rate mortgage from a bank
Subject: Business   / Management
Question
Question 7.7.John is applying for a 15 year fixed rate mortgage from a bank. He will pay back to the bank monthly. The annual interest rate is 4%. If he wants to use the =PMT function in Excel to get monthly payment to the bank, what should he use for the rate parameter of the function?
(Points : 1)
a. 15
b. 4%
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c. 4%/12
d. 0
Question 8.8.What should John use for the nper parameter in the =PMT function?
(Points : 1)
a. 15
b. 12
c. 15*12
d. 0
Question 9.9.What is the final result of the function =IF(B3>B2,1.05,1), given that the value in cell B2 is 3 and the value in cell B3 is 1?
(Points : 1)
a. 0
b. 1
c. 1.05
d. #ERROR
Question 10.10.What is the final result of =SUM(A1:B3) if all cells in the range have the value 2?
(Points : 1)
a. 1
b. 6
c. 12
d. 18
Question 11.11.What is the final result of =AVERAGE(A1:B3) if all cells in the range have the value 2?
(Points : 1)
a. 6
b. 4
c. 2
d. 1
