If my loan is for 4 years and I make one repayment per month, what value will the nper be?

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BlackTom AI · Accepted Answer

The question asks: If my loan is for 4 years and I make one repayment per month, what value will the nper be?
First, interpret what nper means in loan/annuity calculations: nper is the total number of payment periods in the loan term.
Next, determine the payment frequency: one repayment per month indicates monthly payments.
Convert the loan duration to the number of months: 4 years × 12 months/year = 48 months.
Therefore, the total number of payments (nper) is 48.
In the provided information, the available answer labeled as option 'c. 48' correctly reflects this calculation. Since no other answer options are shown, we can’t compare alternatives, but the logic clearly yields 48 as the appropriate nper for a 4-year loan paid monthly.
If you were to double-check, you’d multiply the number of years by 12 to convert years to months, reinforcing that 4 × 12 equals 48 payments in total.

FNDN Computing for Business 2024 STD E2

If my loan is for 4 years and I make one repayment per month, what value will the nper be?

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