Financial =ISPMT(rate, per, nper, pv)

Quiz =ISPMT — 10 Questions

10 quiz questions about =ISPMT — test syntax, arguments, examples & errors!

Questions: 10 questions 15 questions Random 10 or 15 questions from the pool + shuffled options each time

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Progress — 10 questions 1 of 10

Question 1 of 10 1/10

Which formula is a valid example of =ISPMT?

Question 2 of 10 2/10

What is the type of argument “per” in =ISPMT?

Question 3 of 10 3/10

What is the type of argument “nper” in =ISPMT?

Question 4 of 10 4/10

Does =ISPMT return a dynamic array?

Question 5 of 10 5/10

Which function is NOT related to =ISPMT?

Question 6 of 10 6/10

Is argument “nper” required in =ISPMT?

Question 7 of 10 7/10

Which statement about =ISPMT is correct?

Question 8 of 10 8/10

Which category does =ISPMT belong to?

Question 9 of 10 9/10

Is argument “per” required in =ISPMT?

Question 10 of 10 10/10

What is the type of argument “pv” in =ISPMT?

Click a question to see the answer.

1. Which formula is a valid example of =ISPMT?

A. ISPMT(23% / 12, 0, 36, 500000000)
B. =ISPMT(23% / 12, 0, 36, 500000000, 0)
C. =ISPMT(23% / 12, 0, 36, 500000000) ✓
D. =IPMT(23% / 12, 0, 36, 500000000)

Explanation: Correct example: =ISPMT(23% / 12, 0, 36, 500000000)

2. What is the type of argument “per” in =ISPMT?

A. Number ✓
B. Logical
C. Text
D. Value

Explanation: Type of “per” is “Number”.

3. What is the type of argument “nper” in =ISPMT?

A. Text
B. Array
C. Logical
D. Number ✓

Explanation: Type of “nper” is “Number”.

4. Does =ISPMT return a dynamic array?

A. —
B. No
C. No ✓
D. Yes

Explanation: ISPMT does not spill.

5. Which function is NOT related to =ISPMT?

A. IPMT
B. AMORLINC ✓
C. ISPMT_X
D. PMT

Explanation: “AMORLINC” is not related to ISPMT.

6. Is argument “nper” required in =ISPMT?

A. Yes
B. Yes ✓
C. —
D. No

Explanation: “nper” is required.

7. Which statement about =ISPMT is correct?

A. For all the arguments, the cash you pay out, such as deposits to savings or other withdrawals, is represented by negative numbers; the cash you receive, such as dividend checks and other deposits, is represented by positive numbers.
B. Text is always ignored
C. Make sure that you are consistent about the units you use for specifying Rate and Nper. If you make monthly payments on a four-year loan at an annual interest rate of 12 percent, use 12/12 for Rate and 4*12 for Nper. If you make annual payments on the same loan, use 12% for Rate and 4 for Nper. ✓
D. Some loans use a repayment schedule with even principal payments. The ISPMT function returns the interest payment for a given period for this type of loan.

Explanation: Correct: Make sure that you are consistent about the units you use for specifying Rate and Nper. If you make monthly payments on a four-year loan at an annual interest rate of 12 percent, use 12/12 for Rate and 4*12 for Nper. If you make annual payments on the same loan, use 12% for Rate and 4 for Nper.

8. Which category does =ISPMT belong to?

A. Information
B. Cube
C. Financial ✓
D. Date & Time

Explanation: Category is “Financial”.

9. Is argument “per” required in =ISPMT?

A. Yes ✓
B. Yes
C. No
D. —

Explanation: “per” is required.

10. What is the type of argument “pv” in =ISPMT?

A. Array
B. Number ✓
C. Date
D. Reference

Explanation: Type of “pv” is “Number”.