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Sanjev wishes to purchase a plot of land. His bank's annual fixed interest rate is 28%. What is the value he needs to enter in

Sanjev wishes to purchase a plot of land. His bank's annual fixed interest rate is 28%. What is the value he needs to enter in cell B3 (the highlighted cell) in order to calculate his monthly payments (PMT)?

subject is computer apps for business

options are

2.8%.

28%.

2.3%.

1.2%.

1 A B Payment Calculator Montly Payment (PMT): 2 Monthly Interest Rate (RATE): 3 Months to Pay Off Loan (NPER): 240 4 Amount to Loan from Bank (PV): $500,000.00 5

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