- Excel has a number of financial functions,…well over 50 of them.…Some of them are quite sophisticated.…A relatively easy to use function…is one called PMT.…And once you see it,…you'll know why it's widely used…in loans, banking, finance, mortgage industry.…We need to calculate, for example, the payback…month by month on a car loan or a home loan.…In cell G2, I want to use the PMT function…to see how much it's going to cost me every month…as I pay back this loan of $25,000…at a 3.75 percent annual interest…over a four year period, 48 months.…
=pmt(…The rate, 3.75 percent.…You type it a couple of different ways.…3.75% being the most obvious.…We need to divide this by 12…since the payment is a monthly payment…and 3.75 is the annual interest.…So, divide that by twelve, comma,…nper, the pop-up tip below says,…the number of periods of the loan.…If it's four years, we want to put in…either 48 months or we could put in 4*12.…
Same calculation, same effect, comma.…And how much are we borrowing here?…$25,000.…Don't put a comma after the 25.…
- Using absolute, relative, and mixed references
- Using the Formula Builder
- Converting formulas to values
- Creating 3D formulas to gather data from multiple sheets
- Creating and expanding the use of nested IF statements
- Looking up information with VLOOKUP, MATCH, and INDEX
- Using the power functions: COUNTIF, SUMIF, and AVERAGEIF
- Analyzing data with the statistical functions
- Calculating payment
- Performing basic math
- Determining dates and times
- Editing text with functions
- Analyzing data with arrays
Skill Level Advanced
Excel for Mac 2011 Essential Trainingwith Curt Frye6h 32m Beginner
1. Formula and Function Tools
2. Formula and Function Tips and Shortcuts
3. IF and Related Functions
4. Lookup and Reference Functions
5. Statistical Functions
6. Power Functions
7. Selected Financial Functions
8. Selected Math Functions
9. Date and Time Functions
10. Text Functions
11. Array Formulas and Functions
12. Reference Functions
13. Information Functions
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