Question

Stella is a bank executive. She is preparing a spreadsheet on the loan repayment schedules of customers. Which function can she use to calculate the periodic payments?

Answer 1

Answer: The function Stella can use to calculate the periodic payments of a loan is:

The Excel PMT function or NPER function.

Explanation: 1. The Excel PMT function is a financial function that returns the periodic payment for a loan.

2. The NPER function to figure out payments for a loan, given the loan amount, number of periods, and interest rate.