Intro to IT_Ch.4 Study Guide – Flashcards
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Predefined formulas that perform common business calculations, adn which typically involve a period of time such a months or years
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Financial Function
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The amount charged for the use of borrowed money
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Interest
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In the Excel PMT function, the term used to indicate the interest rate for a loan
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Rate
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The total amount that a series of future payments is worth now
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Present Value
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Another term for present value
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Principal
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The abbreviation for number of time periods in various Excel functions
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Nper
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The value at the end of the time periods in an Excel function; the cash balance you want to ttain after the last payment is made - usually zero for loans
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Future Value
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The values that an Excel function uses to perform calculations or operations
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Aruments
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An excel function that calculates the payment for a loan based on sconstant payments and at a constant interest rate
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MPT Function
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An optional argument in the PMT function that assumes that the payment will be made at the end of each time period
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Type Argument
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The process of changing the values in cells to see how those changes affect the outcome of forumlas in the worksheet
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What if Analysis
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One of excels what if analysis tools that provides a method to find a specific value for a cell by adjusting the value of another cell.
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Goal Seek
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A range of cells that shows how changing certain vales in your formulas affects the results of those formulas, and which makes it easy to calculate multiple versions in one operation
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Data table
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A data table that changes the value in only one cell
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One variable data table
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A data table that changes the values in two cells
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Two variable data table
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Loans are typically made for period of
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Years
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The future value at the end of a loan is typically
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Zero
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A word or string of characters that represents a cell
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Name
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When you use a defined name in a formula, the result is the same as if you typed a
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Cell Reference
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A group of excel functions that look up a value in a defined range of cells is called
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Lookup Functions
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An excel function that looks up values that are displayed vertically in a column is the
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VLOOKUP Function
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A defined range of cells arranged in a column or a row used in a VLOOKUP or HLOOKUP function is called a table
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Array
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A list of values that are acceptable for a group of cells is a
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Validation List
