Question

Which of the following arguments in a financial function represents the total number of payments?

• A. FV
• B. PV
• C. Nper
• D. Rate

Hint:

Nper means number of periods, and one period is one payment.

Answer 1

The Correct Option is C

Step 1: Read the argument names.
Nper is short for "number of periods". A period is one payment interval, so Nper counts the payments.

Step 2: Read what the rest stand for.
FV is a money amount at the end. PV is a money amount at the start. Rate is an interest percentage per period. None of them is a count of payments.

Step 3: Example.
A loan repaid monthly for 5 years has Nper = 60. The function uses 60 as the total number of payments.

Step 4: Conclude.
Only Nper gives the total number of payments.
\[ \boxed{\text{Nper}} \]

Final Answer:
The answer is Nper (option 3).