Join Dennis Taylor for an in-depth discussion in this video Finding future values with FV, part of Excel 2011 for the Mac: Mastering Formulas and Functions.
- Financial formulas sometimes are pretty tricky,…unless you happen to know some of the Excel Functions.…The Function called "FV", based on the term "Future Value",…is ideal when you're considering…how much money you might have if you've been depositing…into an account on a regular basis.…Now, interest rates at the time of this recording…are fairly low, 2% might even be optimistic.…Question comes up, "How much money…"will I have after five years if I pay…"$300 per month into an account that earns…"2% interest per year?"…Now, people who are knowledgeable…about the stock market might say,…"There probably are better ways to put your money."…But nevertheless, let's see what happens here.…
And maybe by the time you're viewing this,…interest rates will have gone up.…In Cell B9, I'm going to take advantage…of the fact that the numbers in question…are already here in cells.…=fv(, the Rate, there it is,…2%, be sure to divide that by 12.…These are monthly payments,…we're going to divide this by 12.…Comma, 60 months, if this said five,…
- 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
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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