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My question is what does each part of the excel equation stand for? What is the number for nper? What is the number for pmt?

My question is what does each part of the excel equation stand for? What is the number for nper? What is the number for pmt? etc...image text in transcribed

Solving for I: What annual interest rate would cause $100 to grow to $119.10 in 3 years? Solves the general FV equation for I/YR. Hard to solve without a financial calculator or spreadsheet. INPUTS 3 -100 0 119.10 N I/YR PV PMT FV OUTPUT 6 Excel: =RATE(nper,pmt, pv,fv, type,guess)

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