# FUNDAMENTALS OF COMPUTER

## DATABASE FUNDAMENTALS

### USING THE RIGHT LEFT AND MID FUNCTIONS IN EXCEL

 Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
To find the amount of interest on a loan, the correct formula below is ____
 A ROUND B IPMT C PPTM D DPMT E PPMT
Explanation:

Detailed explanation-1: -The formula to be used will be =IPMT( 5%/12, 1, 60, 50000). In the example above: As the payments are made monthly, it was necessary to convert the annual interest rate of 5% into a monthly rate (=5%/12), and the number of periods from years to months (=5*12).

Detailed explanation-2: -Per Required. The period for which you want to find the interest and must be in the range 1 to nper. Nper Required. The total number of payment periods in an annuity.

Detailed explanation-3: -Whereas the PMT function tells you how much each payment will be, the PPMT function tells you how much of the principal is being paid in any given pay period. (To find out the inverse of this – how much of the interest is being paid in any given pay period – you can use an IPMT function.)

Detailed explanation-4: -The PPMT Function[1] is categorized under Excel Financial functions. The function will calculate the payment on the principal for a loan or an investment based on periodic, constant payments and a fixed interest rate for a given period of time.

There is 1 question to complete.