USING MICROSOFT EXCEL
USING THE UPPER AND LOWER FUNCTIONS IN EXCEL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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true
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false
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Either A or B
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None of the above
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Detailed explanation-1: -FV, one of the financial functions, calculates the future value of an investment based on a constant interest rate. You can use FV with either periodic, constant payments, or a single lump sum payment. Use the Excel Formula Coach to find the future value of a series of payments.
Detailed explanation-2: -PV, one of the financial functions, calculates the present value of a loan or an investment, based on a constant interest rate. You can use PV with either periodic, constant payments (such as a mortgage or other loan), or a future value that’s your investment goal.
Detailed explanation-3: -PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate. Use the Excel Formula Coach to figure out a monthly loan payment. At the same time, you’ll learn how to use the PMT function in a formula.
Detailed explanation-4: -The EFFECT function returns the compounded interest rate based on the annual interest rate and the number of compounding periods per year.
Detailed explanation-5: -FV formula for periodic payments To convert an annual interest rate to a periodic rate, divide the annual rate by the number of periods per year: Monthly payments: rate = annual interest rate / 12. Quarterly payments: rate = annual interest rate / 4.