October 23, 2025 Claire B 0 Comments

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%

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

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