Identify the correct formula to calculate the cumulative principal paid on a mortgage loan for the second year of the loan (periods 1-12, where rate =5%, nper =120, present value = $147,000
A) =CUMIPMT(.05/12, 120*12, 147000,12,1,0)
B) =CUMIPMT(.05/12, 120*12,-147000,1,12,0)
C) =ABS(CUMIPMT(.05/12, 120,-147000,12,1,0))
D) =(ABS(CUMIPMT(.05/12, 120, 147000,1,12,0))
Answer: D
Computer Science & Information Technology
You might also like to view...
The standard mask used with a Class C IP address is _______
Fill in the blank(s) with correct word
Computer Science & Information Technology
You can edit a document on the Print screen in Backstage view.
Answer the following statement true (T) or false (F)
Computer Science & Information Technology