# COMP 242 Excel Chapter 4 – Flashcards

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Financial Functions
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
The amount charged for the use of borrowed money.
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Rate
In the Excel PMT function, the term used to indicate the interest rate for a loan.
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Present value (Pv)
The total amount that a series of future payments is worth now.
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Principal
Another term for present value.
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Nper
The abbreviation for number of time periods in various Excel functions.
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Future value (Fv)
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
The values that an Excel function uses to perform calculations or operations.
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PMT function
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
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
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
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
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
A data table that changes the value in only one cell.
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Two-variable data table
A data table that changes the values in two cells.
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Years
Loans are typically made for a period of:
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Zero
The future value at the end of a loan is typically:
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Name
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
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
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
An Excel function that looks up values that are displayed vertically in a column is the:
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Array