easy5 pts · first answer countsexcelfinancial-functions

Monthly EMI needs a monthly rate

A loan has 9% annual interest and is repaid monthly over 5 years. What should the rate and number of periods be in PMT?

A.Rate 9%, periods 5B.Rate 9%/12, periods 5*12C.Rate 9%, periods 5*12D.Rate 9%/12, periods 5

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