Solved

Match the Following Terms with the Corresponding Description

Question 10

Matching

Match the following terms with the corresponding description.

Premises:
PPMT
CUMPRINC
Loan amortization
CUMIPMT
IPMT
Responses:
Calculates the principal payment for a specified payment period on a loan or an investment given a fixed interest rate,term,and periodic payments
Calculates the cumulative interest throughout a loan amortization table
A schedule that calculates the interest,principal repayment,and remaining balance
Calculates the cumulative principal throughout a loan amortization table
Calculates the periodic interest for a specified payment period on a loan or an investment given a fixed interest rate,term,and periodic payments

Correct Answer:

PPMT
CUMPRINC
Loan amortization
CUMIPMT
IPMT
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