COMP 242 Excel Chapter 4 – Flashcards
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Financial Functions
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Predefined formulas that perform common business calculations, and which typically involve a period of time such as months or years.
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Interest
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The amount charged for the use of borrowed money.
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Rate
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In the Excel PMT function, the term used to indicate the interest rate for a loan.
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Present value (Pv)
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The total amount that a series of future payments is worth now.
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Principal
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Another term for present value.
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Nper
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The abbreviation for number of time periods in various Excel functions.
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Future value (Fv)
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The value at the end of the time periods in an Excel function; the cash balance you want to attain after the last payment is made-- usually zero for loans.
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Arguments
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The values that an Excel function uses to perform calculations or operations.
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PMT function
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An Excel function that calculates the payment for a loan based on constant payments and at a constant interest rate.
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Type argument
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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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What-if analysis
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The process of changing the values in cells to see how those changes affect the outcome of formulas in the worksheet.
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Goal Seek
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One of Excel's What-if Analysis tools that provides a method to find a specific value for a cell by adjusting the value of one other cell-- you can find the right input when you know the result you want.
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Data table
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A range of cells that shows how changing certain values 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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One-variable data table
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A data table that changes the value in only one cell.
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Two-variable data table
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A data table that changes the values in two cells.
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Years
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Loans are typically made for a period of:
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Zero
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The future value at the end of a loan is typically:
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Name
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A word or string of characters that represents a cell, a range of cells, a formula, or a constant value is a defined:
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Cell reference
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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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Lookup functions
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A group of Excel functions that look up a value in a defined range of cells located in another part of the workbook to find a corresponding value is referred to as:
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VLOOKUP function
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An Excel function that looks up values that are displayed vertically in a column is the:
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Array
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A defined range of cells, arranged in a column or row, used in a VLOOKUP or HLOOKUP function, is called a table:
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Ascending order
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When creating a VLOOKUP or an HLOOKUP function, the one requirement is that the data in the table array is sorted in:
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Validation list
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A list of values that are acceptable for a group of cells is a:
