Identify the correct formula to calculate the payment for a loan, where rate =6%, loan amount = $2,000, and payments will be made monthly for six years
A) =PMT(.06, 6*12, 2000)
B) =PMT(.06/12, 6*12, -2000)
C) =PMT(.06, 6*12, -2000)
D) =PMT(6, 6*12, 2000)
Answer: B
Computer Science & Information Technology
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