John Is Applying For A 15 Year Fixed Rate Mortgage From A Bank.

Question 7. 7. John is applying for a 15 year fixed rate mortgage from a bank. He will pay back to the bank monthly. The annual interest rate is 4%. If he wants to use the =PMT function in Excel to get monthly payment to the bank, what should he use for the rate parameter of the function?(Points : 1) a. 15 b. 4% c. 4%/12 d. 0Question 8. 8. What should John use for the nper parameter in the =PMT function?(Points : 1) a. 15 b. 12 c. 15*12 d. 0Question 9. 9. What is the final result of the function =IF(B3>B2,1. 05,1), given that the value in cell B2 is 3 and the value in cell B3 is 1?(Points : 1) a. 0 b. 1 c. 1. 05 d. #ERRORQuestion 10. 10. What is the final result of =SUM(A1: B3) if all cells in the range have the value 2?(Points : 1) a. 1 b. 6 c. 12 d. 18Question 11. 11. What is the final result of =AVERAGE(A1: B3) if all cells in the range have the value 2?(Points : 1) a. 6 b. 4 c. 2 d. 1

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