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

Quiz =ISPMT — 15 Questions

15 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 — 15 questions 1 of 15

Question 1 of 15 1/15

How many optional arguments does =ISPMT have?

Question 2 of 15 2/15

Which use case fits =ISPMT?

Question 3 of 15 3/15

In =ISPMT, which is argument #3?

Question 4 of 15 4/15

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

Question 5 of 15 5/15

Does =ISPMT return a dynamic array?

Question 6 of 15 6/15

In =ISPMT, which is argument #2?

Question 7 of 15 7/15

Is argument “nper” required in =ISPMT?

Question 8 of 15 8/15

Is argument “rate” required in =ISPMT?

Question 9 of 15 9/15

How many arguments does =ISPMT have in total?

Question 10 of 15 10/15

Which statement about =ISPMT is correct?

Question 11 of 15 11/15

What is the output type of =ISPMT?

Question 12 of 15 12/15

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

Question 13 of 15 13/15

Is argument “pv” required in =ISPMT?

Question 14 of 15 14/15

Is argument “per” required in =ISPMT?

Question 15 of 15 15/15

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

Click a question to see the answer.

1. How many optional arguments does =ISPMT have?

A. 1
B. 0 ✓
C. 2
D. 4

Explanation: =ISPMT has 4 required, 0 optional (4 total).

2. Which use case fits =ISPMT?

A. Securities & Bonds
B. Financial Calculations ✓
C. Worksheet Info & Navigation
D. Advanced Formulas

Explanation: Use case “Financial Calculations” fits ISPMT.

3. In =ISPMT, which is argument #3?

A. pv
B. range
C. nper ✓
D. lookup_value

Explanation: Argument #3 is “nper”.

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

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

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

5. Does =ISPMT return a dynamic array?

A. No ✓
B. —
C. Yes
D. No

Explanation: ISPMT does not spill.

6. In =ISPMT, which is argument #2?

A. criteria
B. range
C. per ✓
D. nper

Explanation: Argument #2 is “per”.

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

A. —
B. No
C. Yes
D. Yes ✓

Explanation: “nper” is required.

8. Is argument “rate” required in =ISPMT?

A. No
B. Yes
C. —
D. Yes ✓

Explanation: “rate” is required.

9. How many arguments does =ISPMT have in total?

A. 3
B. 6
C. 5
D. 4 ✓

Explanation: =ISPMT has 4 required, 0 optional (4 total).

10. Which statement about =ISPMT is correct?

A. ISPMT counts each period beginning with zero, not with one.
B. 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. ✓
C. Volatile and recalculates every time
D. 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.

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.

11. What is the output type of =ISPMT?

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

Explanation: Output is “Number”.

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

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

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

13. Is argument “pv” required in =ISPMT?

A. Yes
B. —
C. No
D. Yes ✓

Explanation: “pv” is required.

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

A. No
B. —
C. Yes
D. Yes ✓

Explanation: “per” is required.

15. What is the type of argument “rate” in =ISPMT?

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

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