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

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

Solving for PV: Calculator and Excel Methods Solves the general FV equation for PV. Exactly like solving for FV, except we have different input information and are solving for a different variable. INPUTS 3 4 0 100 N I/YR PV PMT FV OUTPUT -88.90 Excel: =PV(rate,nper,pmt,fv, type)

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