Financial =RATE(nper, pmt, pv, [fv], [type], [guess])

Quiz =RATE — 10 Questions

10 quiz questions about =RATE — 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

What is the type of argument “fv” in =RATE?

Question 2 of 10 2/10

Which category does =RATE belong to?

Question 3 of 10 3/10

What is the output type of =RATE?

Question 4 of 10 4/10

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

Question 5 of 10 5/10

In =RATE, which is argument #2?

Question 6 of 10 6/10

Is argument “pv” required in =RATE?

Question 7 of 10 7/10

What is the type of argument “pmt” in =RATE?

Question 8 of 10 8/10

Is argument “nper” required in =RATE?

Question 9 of 10 9/10

In =RATE, which is argument #1?

Question 10 of 10 10/10

Which statement about =RATE is correct?

Click a question to see the answer.

1. What is the type of argument “fv” in =RATE?

A. Array
B. Text
C. Number ✓
D. Mixed

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

2. Which category does =RATE belong to?

A. Web
B. Engineering
C. Financial ✓
D. Cube

Explanation: Category is “Financial”.

3. What is the output type of =RATE?

A. Date
B. Value
C. Number ✓
D. Text

Explanation: Output is “Number”.

4. What is the type of argument “pv” in =RATE?

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

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

5. In =RATE, which is argument #2?

A. fv
B. pv
C. pmt ✓
D. lookup_value

Explanation: Argument #2 is “pmt”.

6. Is argument “pv” required in =RATE?

A. Yes
B. —
C. Yes ✓
D. No

Explanation: “pv” is required.

7. What is the type of argument “pmt” in =RATE?

A. Number ✓
B. Mixed
C. Value
D. Date

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

8. Is argument “nper” required in =RATE?

A. —
B. No
C. Yes ✓
D. Yes

Explanation: “nper” is required.

9. In =RATE, which is argument #1?

A. pmt
B. nper ✓
C. fv
D. range

Explanation: Argument #1 is “nper”.

10. Which statement about =RATE is correct?

A. Select entire column for best performance
B. Make sure that you are consistent about the units you use for specifying guess and nper. If you make monthly payments on a four-year loan at 12 percent annual interest, use 12%/12 for guess and 4*12 for nper. If you make annual payments on the same loan, use 12% for guess and 4 for nper. ✓
C. Output is always a dynamic array
D. Volatile and recalculates every time

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