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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 FV: Calculator and Excel Methods O Solves the general FV equation. Requires 4 inputs into calculator, and will solve for the fifth. (Set to P/YR = 1 and END mode.) INPUTS 3 4 -100 0 N IYR PV PMT FV OUTPUT 112.49 Excel: =FV(rate,nper,pmt,pv,type)

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